Economists: $100 Oil Won't Derail US Economy
Russia's invasion of Ukraine has sent oil futures above $100 a barrel and will probably bring $4-a-gallon gasoline to much of the US. But it won't be a major drag on American economic growth.
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Russia's invasion of Ukraine has sent oil futures above $100 a barrel and will probably bring $4-a-gallon gasoline to much of the US. But it won't be a major drag on American economic growth.
Recent developments in the conflict between Russia and Ukraine have future oil prices soaring to around $100 a barrel – the highest since 2014.
According to AAA Texas, the gas price average in the state is $3.22 for a gallon of regular unleaded fuel.
The statewide gas price average is $3.00 for a gallon of regular unleaded fuel. That price is four cents more than from this day last week.
According to AAA, the statewide gas price average in Texas is $2.96 for a gallon of regular unleaded fuel.
If Omicron doesn't result in another round of widespread lockdowns, some experts say Americans can expect to see gas prices nearing $4 a gallon in dozens of states.
The statewide gas price average in Texas is $2.91 for a gallon of regular unleaded. That price is two cents more than it was on this day last week.
Gasoline prices have drifted downward over the past few days as concerns of an omicron-driven economic slowdown continue.
One forecast projects prices at the pump will peak nationally at a monthly average of $3.79 in May, before finally retreating below current levels by late 2022.
"Prices may continue to slide as the market continues to assess the latest possible economic impact of the omicron variant," said AAA Texas spokesperson Daniel Armbruster.
The statewide gas price average for a gallon of regular unleaded is $2.91. That price is two cents less than last week and $1.01 more per gallon compared to last year.
Prices at the pump have finally started to creep lower, and according to new government forecasts the trend should speed up significantly in the coming months.
Slight downward movement for the average U.S. price of regular-grade gasoline. Prices fell 2 cents over the past two weeks.
AAA said Thursday that a decrease in demand is leading to a drop in gas prices as crude oil prices also tumble.
"We consume 20 million barrels per day so basically he's (President Biden is)talking about reducing 2 1/2 days worth of supply," economist Bernard Weinstein said.
The average gas price in Texas is $3.00 for a gallon of regular unleaded. That price is five cents less than on this day last week and $1.21 more per gallon compared to last year.
A White House official confirmed to CBS News that President Joe Biden will announce on Tuesday a plan to release 50 million barrels of oil from the U.S.' emergency stockpile.
AAA says 53.4 million people are expected to travel for Thanksgiving—making it close to what it was before the pandemic.
AAA Texas, the statewide gas price average in Texas is $3.03 a gallon for regular unleaded. That price is four cents less than on this day last week and $1.23 more compared to this time last year.
The current fuel rates per gallon statewide are hovering above $3.00.
The statewide gas price average in Texas is $3.07 for a gallon of regular unleaded fuel. That price is $1.27 more per gallon compared to this day last year.
The confirmation of the runaway inflation is also troubling for those working to help families already on the financial edge.
The average gasoline price in Texas is $3.02 for a gallon of regular unleaded -- that's nine cents more than on this day last week and $1.15 more than this day last year.
The statewide gas price average in the Lone Star State is $2.87 for a gallon of regular unleaded fuel, a direct reflection that for the first time since 2014 US oil prices are back above $80 per barrel.
According to AAA, the national gas price average Tuesday, August 31, was just under $3.16, but the agency said to expect those to fluctuate as we head into Labor Day weekend.
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Information trickling out of Iran suggests a far deadlier crackdown on protesters than previously reported.
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
Amber Glenn can now add Olympian to her resume after putting together a phenomenal free skate, which won her a third consecutive U.S. Figure Skating title.
Thirty years after the abduction and killing of 9-year-old Amber Hagerman, Arlington police are honoring her legacy as the inspiration for the Amber Alert system.
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Information trickling out of Iran suggests a far deadlier crackdown on protesters than previously reported.
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
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Texas veterans could be at risk of losing the help they need to stay home.
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Republican Rep. James Comer of Kentucky, the committee's chairman, said the panel will move next week on holding them in contempt.
Republican Rep. Randy Fine of Florida introduced a bill to annex Greenland and make it the 51st U.S. state.
Nearly one year after the mass pardon of more than 1,500 Trump-supporting Capitol riot defendants, House Democrats are asking whether any of the pardoned rioters are now working for ICE.
Defense Secretary Pete Hegseth says the Pentagon will start using Elon Musk's AI chatbot Grok. The word comes days after Grok drew global outcry for generating highly sexualized deepfake images.
Defense Secretary Pete Hegseth highlighted the role of the F-35 fighter jet and its workforce during a visit to Lockheed Martin's Fort Worth plant.
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While retailers like Amazon, Macy's and Target are extending their return window for gifts bought during the holidays, some stores are adding fees to return purchases.
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Texas Agricultural Commissioner Sid Miller is calling for a statewide ban on non-water additives, such as fluoride, in the public water system.
Last year, over 16 million vehicles drove on North Texas toll roads without paying, accumulating more than $69 million in unpaid tolls.
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
As millions of Americans struggle with paying for health care, doctors and health experts discuss how medical care is being eroded by insurers denying necessary tests and treatment, making it "more difficult to be healthy in the United States."
After the ACA tax credit lapsed in December, enrollees are opting for less robust health plans or dropping coverage altogether.
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Salad and Go, a drive-thru salad chain, said on Wednesday that it will close all remaining Texas and Oklahoma stores.
Venezuela is said to have the largest amount of these reserves in the world.
Trump said the "whole infrastructure" of Venezuela has to be rebuilt and that American companies would be used to rebuild it.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
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Amber Glenn can now add Olympian to her resume after putting together a phenomenal free skate, which won her a third consecutive U.S. Figure Skating title.
Cooper Flagg scored 27 points and matched a season high with three blocks, and Naji Marshall had three straight baskets down the stretch and finished with 22 points as the depleted Dallas Mavericks beat the Brooklyn Nets 113-105.
The Bulls put seven players in double figures, outscored the Mavericks 38-8 in fast-break points and never trailed.
The community gathered Saturday at a parade to celebrate the remarkable season for the South Oak Cliff Golden Bears, who won the Texas UIL 5A Division II state football championship.
Anthony Davis has ligament damage in his left hand, and the Dallas Mavericks' oft-injured big man could be facing an extended absence.
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
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The Neonatal Intensive Care Unit babies at Texas Health locations across North Texas celebrated Valentine's Day.
As Anthony Davis prepared for his debut game at the AAC, Dallas Mavericks fans took to the arena to protest the controversial trade.
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