That legislation could increase crude prices by as much as $8.40 a barrel, which would add 20 cents per gallon for gasoline if the sanctions were passed into law and enforced.
gas prices
Posted inBusiness, Maine, News
Mainers are paying less to heat homes and fill vehicles this winter. Here’s why.
Weak global demand and higher domestic oil production have led to energy savings for consumers so far this winter.
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Posted inBusiness, Maine
Maine gas prices rise about 3 cents per gallon
Two Livermore gas stations recorded the lowest gas prices in the state, according to online gasoline price tracker GasBuddy.
Posted inBusiness, Nation / World, News
Gasoline is surging all over the world in fresh inflation blow
Gasoline prices are often a topic of contention as those costs can be an essential daily expense for many, alongside food and rent.
Posted inBusiness, Nation / World, News, Politics
What is the strategic oil reserve, and can it lower gas prices?
With Election Day on the horizon and gas prices rising, President Biden proposes releasing another 15 million barrels of oil.
Posted inNation / World, News
Biden to release 15 million barrels from oil reserve, more possible
President Biden will also open the door to additional oil reserve releases this winter in an effort to bring prices down.
Posted inBusiness, Nation / World, News
U.S. consumers gaining confidence as gas prices keep falling
The back-to-back monthly increases follow three straight monthly declines as American households were hammered by rising prices, particularly at the gas pump.
Posted inBusiness, Maine, News
Maine’s average gas price falls below $4 a gallon for first time since March
The price has dropped by more than a dollar per gallon since peaking in mid-June.
Posted inBusiness, Maine
Maine’s gas prices fall, but remain higher than national average
There is no clear reason why Maine’s average price is about 40 cents higher than the national average of $3.99, but several industry experts said the Northeast generally has higher gas prices than the rest of the nation.
Posted inBusiness, Nation / World, News
Oil companies see unprecedented profits as consumer prices soared
On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion.