Biden announces release of crude oil reserves to help drop gas prices in wake of OPEC+ cut
President Biden took action Wednesday to ease the pain at the pump announcing the release of 15 million barrels of crude oil from the nation’s emergency stockpile to help drop gas prices just three weeks away from mid-term elections.
As gas prices rise in the US, countries around the world are feeling pain at the pump even more
According to data from globalpetrolprices.com, 46 countries has gas prices that are $6 a gallon or more, 26 have prices that are at least $7 a gallon while nine countries have gas prices that are $8 a gallon or more.
Florida gas prices finally drop, and there’s a sign they could fall lower
FORT LAUDERDALE, Fla. – The rising gas prices in Florida finally hit a speedbump, with the average cost at the pump Monday morning sitting about four cents lower than last Monday. And now that the Suez Canal blockage is being cleared up, experts say that can only help our gas prices. So drivers could see gas prices slip even lower, unless the blockage at the canal raises supply concerns and the price of oil.”AdJenkins noted that last week’s crude oil price decline was enough to potentially send gas prices back below $2.70 per gallon, had it not been for the Suez Canal blockage. Florida’s gas prices had been climbing steadily. South Florida’s four counties are each paying more than the state average:Miami-Dade County: $2.917Broward County: $2.913Monroe County: $2.979Palm Beach County: $2.993For more information on Florida gas prices, click here.
Florida paying most for gas in 3 years but expert sees ‘good news’ coming
FORT LAUDERDALE, Fla. – Floridians woke up Monday to an average gas price of $2.91, the highest in the state since May of 2018. “The good news for motorists is that gas prices could soon begin to slip lower,” says Mark Jenkins, a spokesman for AAA who tracks gas prices. “Weekly [Energy Information Administration] data suggests that refinery operations are improving and gasoline supplies are increasing. Wholesale gasoline prices dropped nearly 20 cents last week. And South Florida is paying more than the state average:Miami-Dade County: $2.932Broward County: $2.929Monroe County: $3.013Palm Beach County: $3.004For more information on Florida gas prices, click here.
Gas prices keep getting pumped up. Is there an end in sight?
FORT LAUDERDALE, Fla. – Florida gas prices jumped another 15 cents per gallon over the past week, and experts predict that yet another hike could be coming this week. “Although gas prices normally increase in the spring, the price hike is especially pronounced this year, as global crude supplies tighten and domestic refinery issues lead to reduced gasoline supplies. South Florida’s gas prices are higher than the state and national averages. Tightening domestic gasoline supplies. Investors have become extremely optimistic about the long-term future of gasoline demand.
Florida gas prices rise again — and they may keep surging
“Florida gas prices could rise again this week,” said Mark Jenkins, a spokesman for AAA. “Crude oil prices surged last week after OPEC and its allies announced plans to extend production cuts beyond April. AdFlorida’s gas price has gone up more than half a buck (53 cents) since Jan. 1. In a news release, Jenkins listed five reasons we’re seeing such a steep increase:Tightening global crude oil supplies. For more info on Florida gas prices, click here.