gasoline prices

President Donald Trump called on U.S. oil companies to immediately lower gasoline prices following a drop in crude futures after he canceled a planned military strike on Iran. He urged producers to reduce retail oil prices in a social media post.

President Donald Trump criticized Exxon Mobil and Chevron for high profits amid rising gasoline prices, urging them to lower retail prices. The companies' recent strong earnings, driven by supply disruptions and high crude prices, have drawn scrutiny as the administration faces pressure to address fuel costs before midterm elections. Chevron and Exxon executives warned that refining capacity shortages may keep prices elevated through fall.

A key inflation gauge has fallen due to a 9% drop in energy and gasoline prices in June, linked to a now-defunct US-Iran ceasefire agreement. Economic growth is slowing, yet the Federal Reserve may still consider raising interest rates.

A new AP-NORC poll shows most Americans believe the war with Iran has not been worthwhile, with President Donald Trump’s approval rating on Iran dropping to 28%. The conflict, which began on February 28, has resulted in 18 U.S. service member deaths, and public opinion indicates growing dissatisfaction with the prolonged conflict among both Republicans and non-Republicans.

Iranian authorities plan to increase gasoline prices to reduce fuel consumption, but the move could trigger social unrest amid existing economic hardships for many households.

Gas prices in Los Angeles County increased for the 11th consecutive day, reaching an average of $5.683 per gallon. The price has risen 27.8 cents over 11 days, according to AAA and Oil Price Information Service data, with increases of 17.6 cents compared to one week ago and $1.208 compared to one year ago.

Aging oil refineries in California, such as Phillips 66 and Valero Benicia, have shut down, reducing the state’s refining capacity by 17%. The article argues California should stop subsidizing these aging refineries and instead focus on ensuring gasoline supply stability through imports and infrastructure, while supporting environmental regulations and the shift to electric vehicles.

The U.S. is reducing efforts in energy efficiency as electricity costs rise faster than inflation and gasoline prices average $4 a gallon. This could lead to increased electricity and gas consumption by consumers.

Gasoline prices are rising faster than crude oil prices, with the 'crack spread' — the spread between gasoline and crude oil costs — widening sharply.

U.S. producer prices fell 0.3% in June compared to May due to plunging energy prices, though annual inflation remained at 5.5%. Rising tensions with Iran and a new blockade in the Strait of Hormuz are worsening the outlook for energy prices and economic stability.

The week ahead includes a key inflation test for the Warsh Fed, with June CPI data expected to show a potential negative monthly headline for the first time in over a year. Gasoline price declines of about 10% in June may contribute to the downward trend in inflation metrics.

Fuel prices remain nearly a dollar per gallon higher than pre-Iran war levels, causing consumer concern during the peak summer driving season. Prices have fallen recently but still pose an inflation risk for markets.

7-Eleven reported a $349 million profit in the U.S. last quarter due to rising gasoline prices, despite a decline in the number of Americans purchasing fuel.

The potential collapse of a US-Iran ceasefire has increased anxiety over rising fuel prices as oil prices hit a multi-week high following attacks on commercial ships and military sites. Tanker traffic through the Strait of Hormuz has halted, amplifying geopolitical risk, while gasoline prices edged higher amid concerns over disrupted oil flows.

Gasoline prices in annexed Sevastopol rose 30% in a week, reaching $5.80 per gallon by June 29, according to Rosstat data.

Rising food and gasoline prices, driven by tariffs and the war in Iran, are making the upcoming July 4 celebration the most expensive in the U.S. as the country marks its 250th birthday.

Crude oil prices have fallen 36% from their April peak, while gasoline prices have dropped only 22% from their May high. The article highlights the disconnect between the two prices, noting that refined gasoline comes from crude oil but their prices do not move in lockstep.

A Moody's Analytics economist estimated that the US-Israel war with Iran has cost the average American household $1,000, driven by higher gasoline and diesel prices. Gasoline prices peaked at $4.56 per gallon in May, while increased transport costs pushed grocery prices up by $200 per household. US inflation reached a three-year high in May.

Consumer confidence in the U.S. rose in June to 49.5 from 44.8 in May, driven by lower gasoline prices and eased U.S.-Iran tensions, though it remains below pre-conflict levels. Inflation and high prices continue to strain households, with over half reporting financial stress and adjusted spending habits.

U.S. President Donald Trump pressured oil companies to lower gasoline prices after oil prices declined. Trump accused the firms of 'gouging' consumers.

Trump stated that the Justice Department will investigate high gasoline prices. A driver in Florida is shown refueling a vehicle with regular gasoline.

Gasoline prices have officially dropped below $4 per gallon, marking the smallest possible decrease. The change is described as 'barely' significant.

Retail sales increased by 0.9% in May as warmer weather and lower gasoline prices encouraged higher consumer spending.

Retail sales increased by 0.9% in May, driven by improved weather and lower gasoline prices. Sales at clothing, home furnishing, and online retailers rose, while electronics stores saw a decline. Gas prices fell 11% from $4.51 to $4.02 per gallon, though a tentative Iran war deal remains uncertain about long-term recovery.

Retail sales increased by 0.9% in May as warmer weather and lower gasoline prices encouraged higher consumer spending.

Retail sales increased 0.9% in May, driven by warmer weather and lower gasoline prices, with a 0.7% rise excluding gas stations. Tax refunds in April and May contributed to the growth, though their impact is waning. The Iran war peace deal may ease gas prices, but analysts caution about lingering supply issues and shifting consumer habits.

Analysts predict that US petrol prices will not decrease before 2027, and US drivers may need to wait until 2027 for gasoline prices to drop.

Rising energy costs accounted for over 60% of May’s 0.5% increase in U.S. consumer prices, with gasoline prices surging 7% monthly and 40.5% annually. Energy prices rose 23.5% over the past year, outpacing slower food price increases (3.1% annually), while disruptions at the Strait of Hormuz raised concerns about fertilizer supply chains.

A tentative U.S.-Iran peace deal is expected to increase traffic through the Strait of Hormuz, potentially easing gasoline prices at the pump, but prewar levels may remain unattainable.

The U.S. inflation rate is currently at 4.2%, but it is expected to decrease by the end of 2026 due to lower gasoline prices and the fading effects of tariffs.

Inflation reached 4.2% in May 2026, the highest in over three years, driven by soaring gasoline prices linked to the U.S.-Iran war. Energy costs accounted for over 60% of the monthly rise in consumer prices, while wages increased 3.4%, reducing workers' real spending power. Core inflation, excluding food and energy, rose 2.9% annually.

President Trump’s approval rating remains near the lowest level of his political career, with 35 percent of Americans approving of his job performance. The low approval is linked to expectations of rising gasoline prices due to the Iran war.

U.S. President Donald Trump vowed to end the Iran war quickly and address high prices during a campaign event in Chippewa Falls, Wisconsin, as Republicans aim to retain control of the U.S. House of Representatives in the midterm elections amid voter concerns over rising living costs and gasoline prices linked to the conflict.

The article discusses how permanent supply shocks are increasing grocery and gasoline prices, highlighting that the Federal Reserve cannot control these inflationary pressures. It argues that Congress must take action to protect consumers' financial well-being.

A key inflation gauge accelerated in April to the highest level in three years, driven by rising gasoline and food prices, which are straining American households.

India has increased diesel and gasoline prices for the third time in eight days, impacting fuel costs nationwide. A fuel station in Ahmedabad was photographed on May 15, highlighting the ongoing price adjustments.

Americans have spent an additional $45 billion on fuel costs since the Iran war began on February 28, with the national average for regular gasoline reaching $4.55 per gallon on Friday. This represents more than a 50% increase in gas prices since the conflict started, with projections suggesting prices could reach $5 per gallon.

U.S. gas prices have reached their highest levels in nearly four years amid tensions with Iran, with analysts warning that global oil inventory declines could push fuel prices even higher within 4-6 weeks. The price surge comes ahead of the Memorial Day holiday period.

High gasoline prices at $4.50 per gallon are forcing consumers to reduce discretionary spending, including fewer nights out and increased budget constraints. The article examines the economic impact of elevated fuel costs on consumer behavior and household finances.

Rising global gasoline prices due to the war in Iran are prompting drivers in many countries to switch to electric vehicles (EVs). However, U.S. buyers are not following this trend, partly due to a lack of affordable EV options.