Under intense political pressure to address soaring gasoline prices, President Biden is trying to push the nation’s largest refiners to do more to boost supplies and lower prices. In a letter to the companies on Wednesday, Biden said refiners are taking advantage of the crisis, seeing record-high profit margins at a time when inflation has […]
Tag: inflation
Gulp! Gas prices hit $5 nationwide
The national average retail price for regular gasoline hit $5 per gallon on Saturday for the first time in over two decades, according to data from AAA. It’s the highest the group has seen gas prices rise since it started tracking the data in 2000, and it’s likely to get worse as oil demand continues […]
Inflation Hits 40-Year Record Again
resident Joe Biden’s inflation problem is not going away, with the annualized rate of U.S. inflation hitting 8.6 percent in May, according to new figures released by the Bureau of Labor Statistics on Friday after months of high inflation and a rising cost of living. The Bureau reported that May’s inflation represents “the largest 12-month […]
Democratic Senator Brags of Escaping Gas Prices with Her Electric Vehicle
Americans across the country are facing severe threats to their livelihood from sky-high gasoline prices under President Joe Biden. The average price of a gallon of regular gas in the U.S. was $4.919 on Tuesday — an all-time high, according to AAA. One Democrat senator is fortunate enough to avoid facing this problem, and she […]
Crude Awakening! Gas prices climb 5 cents overnight
Gas prices are still on the rise and could soon reach $5 per gallon avg, a figure that has forced some Americans to rethink their leisure travel. The national average gas price climbed five cents Monday night into Tuesday and 10 cents since Saturday, now hitting a record $4.92 per gallon, according to the American […]
Gas prices surge 25 cents in a week, $6 a gallon by July
The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month.There are now 10 states where the average price of gasoline is $5 a gallon or higher, with the latest being […]
‘Retirement’ is being retired
Picture retirement in your head. It’s a laughing, grey-haired couple sipping piña coladas on a white sand beach; perhaps they’re getting some liquid courage for their sky dive later. Not a care in the world, their only responsibility is getting their grandchildren good gifts for their birthdays. It’s a beautiful fantasy – and for many […]
‘Not my fault’ says Biden as gas prices double since elected
Since Biden took office in January 2021, the price for a gallon of gas has doubled. On Jan. 20, 2021, the average price for a gallon of gas nationwide was approximately $2.39. As of Saturday, the price for a gallon of gas has skyrocketed to $4.81, up five cents from Friday, according to AAA. The […]
‘Brace yourself’ an economic ‘hurricane’ is coming
JPMorgan Chase CEO Jamie Dimon warned of a looming economic “hurricane” caused by an increasingly hawkish Federal Reserve, rising inflationary pressures and the Russian invasion of Ukraine. Dimon – who said at the beginning of May there were storm clouds forming on the economic horizon – ratcheted up his warning on Wednesday, citing fresh challenges […]
It’s True! Inflation Has Gone Up Every Month of Joe Biden’s Presidency
With inflation reaching double digits in some cities across America, U.S. President Joe Biden has been excoriated for rising rates throughout his presidency. The impact of the conflict in Ukraine war on the prices of gasoline, food and other necessities, among other factors, has led to inflation rate rises of 8.5 per cent in the […]
Despite high gas prices, More Memorial Day travel is expected
AAA estimates that 39.2 million people in the U.S. will travel 50 miles or more from home during the holiday weekend. To drive, or not to drive? This Memorial Day weekend, with surging gas prices that are redefining pain at the pump, that is the question for many Americans as a new COVID-19 surge also […]
Global Recession is imminent says World Bank boss
The head of the World Bank has warned that Russia’s invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. David Malpass told a US business event on Wednesday that it is difficult to “see how we avoid a recession”. He also said that a series of coronavirus […]