Stocks come back strong, shrugging off hot inflation reading
Dow swings more than 1,300 points as investors glimpse reasons for hope in September consumer price index.
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Dow swings more than 1,300 points as investors glimpse reasons for hope in September consumer price index.
California Gov. Gavin Newsom said Friday he will call a special session of the state Legislature in December to pass a new tax on oil companies as punishment for what he calls "rank price gouging."
Gov. Newsom said Friday he will call a special session of the legislature to pass a new tax on oil companies as punishment for what he calls "price gouging." Sara Donchey reports. (10-7-22)
Sara Donchey reports on how spiking gas prices are leading some rideshare drivers to get electric vehicles (10-5-2022)
The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.
Gov. Newsom said oil companies need to explain why California drivers pay so much more than the rest of the nation.
Gov. Newsom said oil companies need to explain why California drivers pay so much more than the rest of the nation. Shawn Chitnis reports. (9-30-22)
After a months-long downward trend, gas prices are trending upwards once again in the Bay Area.
Inflation in the central Bay Area shrank by half a percent between June and August, but it was up 5.7 percent from a year earlier, according to data released Tuesday by the U.S. Bureau of Labor Statistics.
Many Bay Area drivers are noticing the change, as some stations are now charging less than $5 for a gallon of regular.
The price of gas has dropped pretty substantially throughout the Bay Area over the last 10 weeks or so. There may even be a spot in your neighborhood offering regular gas for less than $5 a gallon. Max Darrow reports. (8/23/22)
More than 250,000 people applied for unemployment benefits last week, the highest number since November.
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
Danya Bacchus reports on consumer prices increasing 9.1% over the last 12 months according to the Labor Department (7-13-2022)
The price of crude oil dropped below $100 per barrel this week for the first time in several months. While it won't have an immediate impact on gas prices in the Bay Area, industry experts say it should in a few weeks.
The price of crude oil dropped below $100 per barrel this week for the first time in several months. While it won’t have an immediate impact on gas prices in the Bay Area, industry experts say it should in a few weeks. Max Darrow reports. (7/6/22)
Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
California's gas tax will go up just as people hit the road for the holiday weekend. There's a new effort in Sacramento to try to lower prices.
Most California taxpayers would get hundreds of dollars in cash to help offset the high price of fuel under a tentative budget compromise being discussed by legislative leaders and Gov. Newsom.
The idea, which would require the support of Congress, is already being met with skepticism.
With California drivers paying more than $6 for a gallon of gas and state officials deadlocked for months over how to provide relief, lawmakers in the state Assembly on Monday announced they would investigate oil companies.
A bill being pushed this week by congressional Democrats would send as much as $240 a year to most American taxpayers for as long as oil prices stay high.
Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Andrea Nakano reports on Bay Area residents who were forced to change travel plans due to high gas prices (5-30-2022)
