DIRS.INFO The most relevant business & tech news

☆ Biden's gasoline sale likely won't have a major impact on summer pump prices
▼ + stars: | 2024-05-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Gas prices trending lowerOil prices surged last month as Israel and OPEC member Iran stood on the brink of war, raising concern at the White House that gasoline prices could jump heading into the summer. When adjusting for inflation, pump prices are about 2% lower compared to last year, according to the Energy Information Administration. Even in costly California, gasoline prices are down about 27 cents over the past four weeks, he said. But de Haan said gasoline prices will likely edge lower through the Fourth of July holiday as refiners increase output, which should keep downward pressure on pump prices. "Since the pandemic, the summer driving season has not seen a surge in demand, which can push pump prices higher," said Gross, the AAA spokesperson.

Persons: Kevin Carter, Biden, Patrick de Haan, It's, de Haan, Andrew Gross, De Haan, Superstorm Sandy, Donald, Trump, Brent, Gross Organizations: Getty, The Department of Energy, Northeast Gasoline Supply, AAA, Energy Information Administration, Congress, Reserve Locations: San Diego, San Diego , California, Israel, Iran, California

Gas prices have fallen or remained steady since Sep. 19 — marking about a 70-day trajectory of decline, Andrew Gross, spokesperson for motor club AAA, said Tuesday. As of Tuesday, the national average for gas prices stood just below $3.25, according to AAA. Experts point to a recent decline in oil prices and a seasonal dip in demand, as well as easing inflation. Political Cartoons View All 1270 ImagesWHY ARE GAS PRICES FALLING? While the downward trend in gas prices is expected to continue at least into the New Year, anything's possible.

Persons: — It's, Andrew Gross, Patrick De Haan, Gross, ” Gross, De Haan, There's, ” De Haan, — Organizations: AAA, West Texas Locations: U.S, Russia, Ukraine, Saudi Arabia, OPEC, Israel, Texas, Mississippi, Georgia, California, Hawaii, Washington

WASHINGTON (AP) — Charles and Kathleen Moore are about to have their day in the Supreme Court over a $15,000 tax bill they contend is unconstitutional. "If you haven’t received any income, how can you be required to pay income taxes?” Charles Moore asks in a video posted by the Competitive Enterprise Institute. But far from being a passive investor with no influence over the company, Moore, who worked at Microsoft during his career in software development, served on KisanKraft's board of directors for five years. One other inconsistency is that while the Moores say they jointly invested the money, only Charles Moore's name appears in company documents. Rosenthal said that “the ugly facts matter” and that the justices could return the Moores' case to a lower court without ruling on it.

Persons: — Charles, Kathleen Moore, Charles Moore, Moores, Paul Clement said, Donald Trump, haven’t, ” Charles Moore, Moore, Charles, KisanKraft, ” Mindy Herzfeld, Charles Moore's, ”, Reuven Avi, Yonah, Andrew Grossman, Steven Rosenthal, Rosenthal, John Roberts, Clarence Thomas, Ginni, Ravindra “ Ravi ” Kumar Agrawal, “, ” Moore, Samuel Alito, David Rivkin, Alito, Rivkin, Fatima Hussein Organizations: WASHINGTON, Enterprise Institute, Foundation, Republican, U.S . Chamber of Commerce, Competitive Enterprise Institute, Microsoft, University of Florida, KisanKraft, University of Michigan, Associated Press, Urban, Brookings Tax, Center, Moores, ___ Associated Locations: Redmond , Washington, India, county Limerick, Ireland, Nebraska, Colorado, Washington, ___

☆ Social Security cost-of-living adjustment for 2024 may be 3%, estimate finds. How hurricane season may change that
▼ + stars: | 2023-08-18 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

"The COLA estimate might go down if gas and oil prices drop." Hurricanes, in particular, may prompt higher oil and gas prices, she said. "Certainly, hurricane season bears close monitoring, and we are entering the heart of it now," said AAA spokesman Andrew Gross. "A major storm impacting the Gulf Coast and nearby refineries will likely lead to a spike in gas prices for a few weeks," he said. However, the pressure may be off pump prices at the moment, he said, due to a combination of lower oil prices and flat demand.

Persons: Mary Johnson, Johnson, Andrew Gross Organizations: Istock, CPI, Social Security, Senior Citizens League, Hurricanes, National Oceanic, Atmospheric Administration, AAA, Seniors Locations: Coast

☆ Gas prices in the US just spiked to their highest mark since November
▼ + stars: | 2023-07-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US gas prices hit an eight-month high on Friday. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAs if Americans needed another reason to work from home, US gas prices spiked Friday to their highest mark since November, according to AAA data. The average retail price for a gallon of gas just hit $3.732, up from $3.587 a week ago and $3.556 a month ago. Surging gas prices could also have a negative impact on President Joe Biden's reelection bid, which is largely built on a platform of lower inflation and his ability to restore consumer confidence. To be sure, a year ago gas prices hovered at $4.278, about 12% higher than current levels.

Persons: Joe Biden's, Andrew Gross, Brent Organizations: Gulf, Service, AAA, Bloomberg, West Texas Locations: Wall, Silicon

☆ Amid high inflation and pent-up demand, lower gas prices can help travelers save this summer. Here are some tips
▼ + stars: | 2023-06-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

For those who hit the road to travel this summer, there is good news: Gas prices are substantially lower than they were last year. As of Friday, the national average for a gallon of gas is $3.58, down from $5 one year ago, according to AAA. Last year's high prices made headlines, and even prompted politicians on the state and federal level to call for gas tax holidays. And barring any surprises during hurricane season, the outlook for gas prices is mostly stable, Gross said. The national average will probably stay in the range of $3.50 per gallon, he said.

Persons: Andrew Gross, Gross, Ted Rossman Organizations: AAA, Finance, Auto

☆ Gas, airfares, car insurance: How transportation costs are impacting high inflation
▼ + stars: | 2023-02-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Xinhua News Agency | Xinhua News Agency | Getty ImagesMeanwhile, fuel oil dipped 1.2% in January but was up 27.7% for the past 12 months. While high gas prices made headlines in 2022, prompting gas tax holidays in some states, those prices have subsided from last year's highs. Gas prices "did rise in January and that was mostly due to the weather," said Andrew Gross, spokesperson at AAA. Other transportation costs are in fluxNew vehicles are up 5.8% over the past 12 months ending Jan. 30, and up 0.2% for the month. However, used cars and trucks, a category that surged during record high inflation, are now down 11.6% for the past 12 months and down 1.9% for January.

☆ You'll pay less for gas over the holidays, as prices continue to slide — here's how much a gallon costs in your state
▼ + stars: | 2022-11-24 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

Travelers get a bit of break over the Thanksgiving holiday, since gas prices dropped by 16 cents in the past week, bringing the average price of a gallon in the U.S. to $3.61. That's well below the summer peak of over $5 for a regular gallon of gas, although as of Wednesday, prices are still 21 cents higher than a year ago, according to the American Automobile Association (AAA). It's also the highest national average during Thanksgiving since 2000, when AAA first started tracking average gas prices in the U.S."Thanksgiving [gas prices] will be about a dollar more per gallon than in pre-pandemic 2019. However, we can be thankful that gas prices are moving in the right direction for now," said AAA spokesperson Andrew Gross. Here's a look at the average price for a regular gallon of gas in every U.S. state.

U.S. gas prices are now at their lowest level since the February start of Russia's war in Ukraine, which sent prices soaring. "However, we can be thankful that gas prices are moving in the right direction for now,” Gross said. There remains wide geographic variability in gas prices, with averages in southern U.S. states well below the national rate. As demand remains subdued and gasoline stocks grow, drivers will likely see pump prices dip through the Thanksgiving holiday, it said. Still, this year is projected to be the third-busiest for Thanksgiving travel since AAA started tracking in 2000, the group said.

The OPEC+ alliance announced Wednesday that it will cut oil production by 2 million barrels a day, a move that's likely to send gas prices higher again after a year of tumult at the pump. Prices trended downward from July to mid-September, as President Joe Biden sought to reduce gas prices, and stress on Americans’ wallets, ahead of the midterm elections. Capital Economics research group now expects global oil prices to rise from about $93 to $100 per barrel, with U.S. benchmark prices rising from $88 to $92. At the outset of Russia's invasion of Ukraine, global oil prices had climbed to as much as $128. Political analysts have observed a strong correlation between gas prices and Biden's approval rating, as voters home in on gas prices as a proxy for inflation and thus the state of the economy.

The average cost of gas in the U.S. inched up by a penny Wednesday, ending a 98-consecutive-day streak of declining prices, AAA.com said. “But there are big factors tugging on global oil prices — war, COVID, economic recession, and hurricane season. U.S. gas prices are largely determined by global oil prices. Last week, the price of U.S. benchmark West Texas Intermediate crude oil climbed above $88 a barrel for the first time since August. It has since come back down in price, suggesting further declines in U.S. pump prices could be in the offing.

☆ US gas prices climb for the first time in nearly 100 days - and remain 15% higher than last year
▼ + stars: | 2022-09-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US gas prices rose to $3.681 per gallon on Wednesday from $3.674 on Tuesday, marking the first increase in 99 days, said AAA. One month ago, prices stood at $3.904 a gallon, whereas a year ago a gallon cost $3.192, or about 15% less than the current rate. Prior to the uptick, gas prices saw their smallest weekly decline in months over the last week. All this uncertainty could push oil prices higher, likely resulting in slightly higher pump prices." Oil prices slipped Wednesday, with West Texas trading down 1% at $83.12 a barrel.

Search resuls for: "Andrew Gross"

12 mentions found