President Biden will also open the door to additional oil reserve releases this winter in an effort to bring prices down.
gas prices
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.
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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.
Posted inBusiness, Nation / World, News
U.S. gasoline prices fall to 2-month low with pump pain easing
The nationwide average was at $4.495 a gallon, according to data released on Tuesday by the American Automobile Association.
Posted inBusiness, Maine, News
Gas prices decline, but experts unsure if the trend will continue
The average price of regular gasoline in Maine is down 32 cents a gallon from its June peak, with York County reporting the lowest countywide average.
Posted inBusiness
Here’s what a pause in the gas tax would mean for prices at the pump
The president wants to give drivers a break from gas taxes. Will it help bring down soaring prices?
Posted inBusiness, Nation / World
Why Maine gas prices are slightly higher than the national average
Spiking gas prices have weighed on motorists in every state this year, but the burden has not been evenly distributed.
Posted inBusiness, Nation / World, Politics
Here is how Biden’s proposed gas tax holiday would work
If savings from the 18.4 cents-a-gallon federal tax on gas are fully passed along to consumers, drivers would save about $2.76 for a 15-gallon fill-up.