Gas | featured news

China and Russia signed contracts worth several billion dollars, but didn't reach a breakthrough in negotiations to supply Russian gas to China.

The average retail price for gasoline dipped below $2.50 a gallon for the first time in two months Monday as swelling oil supplies and slumping demand overshadowed even a fire at a major U.S. refinery.

A 50 billion Australian dollar ($41 billion) deal for China to buy Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests, officials said Wednesday.

The national average price of gasoline fell about 10 cents a gallon during the past two weeks to $2.56.

Russian-built floating reactors could be used to power the operations needed to extract fossil fuels like oil and gas in the Arctic, according to nuclear experts.

After rising nearly every day for the past two months and climbing 67 percent so far this year, it looks like gasoline prices may be ready to take a break.

A Michigan man has learned not to stick his fingers in certain places.

On Tuesday he stopped at a Conoco station, fueled up and paid for $90 dollars worth of gas. At least he thought he paid for $90 of gas until he got a phone call. "A pre-authorization at an automated gas station dispenser was approved at $81,400,836,908," the automated recording said. "I broke it down and its like $550 Million a gallon.."

Crude oil prices have fallen to new lows for this year. So you'd think gas prices would sink right along with them.

Russian natural gas began flowing Tuesday into Ukraine after a nearly two-week cutoff that left large parts of Europe cold and dark and underscored the continent's vulnerability and dependence on Russia's energy.