Gasoline Prices | featured news

Following GOP strategy, Fox News is again blaming the Obama Administration for rising gas prices -- a claim that has been repeatedly debunked by energy analysts. But back in the summer of 2008 when the average U.S. gasoline price hit a record high of $4.11, Fox said that "no President has the power to increase or to lower gas prices" and the only way to reduce our vulnerability to gas price spikes is to use less oil.

Gasoline prices have never been higher this time of the year. At $3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $4.25 a gallon by late April.

U.S. gas prices have edged up 6 cents over the past two weeks, but don't fret that a steady climb is on the horizon, the publisher of a new survey said Sunday.

Consumer spending rose less than expected in April as high gasoline prices continued to squeeze household budgets, according to government data on Friday which also showed annual inflation accelerating at its fastest pace in a year.

Oil prices tumbled nearly 5 percent on Wednesday, as easing supply concerns sent gasoline into a tailspin that briefly forced trading on the New York Mercantile Exchange to stop.

The average gas price in the United States has hit the $4 mark, just 11 cents shy of the all-time high, according to a survey published Sunday.

The average price of a gallon of gasoline in the United States rose slightly in the last two weeks and will likely hold steady for some time, according to an industry analyst.

Strikes fueled by higher prices for gasoline, diesel and kerosene spread across sections of India on Monday, disrupting rail and port traffic in some areas.

Inflation pressures remained modest in the month even though gasoline prices edged higher, the government reported.

The 0.7 percent pace in June was slightly faster than expected, but the core inflation measure remained relatively tame.