economy, gas | WOPULAR

Drivers benefit as oil prices drop sharply

A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. Over the past three weeks, the price of oil has fallen by 9 percent to $89 a barrel.

Retail sales point to stronger third-quarter consumer spending

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

Price of gas continues to fall, but that may change soon

Consumers have caught a break from the slowing economy as gasoline prices extended their steep three-month decline, but the cost of filling the tank may soon head back up, a widely followed survey said on Sunday.

Lower oil prices ease load on consumers and Obama

What only weeks ago was seen as a serious threat to the economic recovery could now turn into a stimulus everyone can love. Oil and gasoline prices are sinking, giving relief to businesses and consumers who a few weeks ago seemed about to face the highest fuel prices ever.

Senh: Oops, there goes another thing that Mitt Romney can't blame on Barack Obama. He'll probably take credit for it, though.

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Another Election Year, Another Attempt to End Oil Speculation

Tue, 04/17/2012 - 5:23pm — Sin-Mao Yang

It might have started a couple months earlier, but this is eerily similar to the summer of 2008 when gas prices were at record highs, which is around $4 per gallon. Back then, congress proposed a bill to regulate oil speculation, but nothing came of it. It was shelved when people fought back by driving less and using alternative methods of transportation, lowering gas prices to the point where it no longer became an issue.

CNBC: Why we have nothing to fear from $4 gas

For the majority of the country, $4 gas isn’t going to doom us or our economy. Here’s why.

Can a Simple Thing like Rising Gas Prices Derail Both The Economy and Barack Obama's Re-Election

Thu, 03/29/2012 - 2:04pm — Sin-Mao Yang

It’s hard to think that increasing gas prices alone can derail the economy and Barack Obama’s re-election along with it, but the media certainly makes it seem possible with their headlines.

I remember during the summer of 2008 - in the heat of the presidential election - we encountered the same issue. Democrats tried to blame higher gas prices on then president George W. Bush. There were talk of opening up our oil reserves, more drilling, and regulating speculators.

It’s the Economy: Rising Gas Prices Don’t Actually Affect Americans’ Behavior

How much are Americans freaked out by the prospect of paying $4 a gallon at the pump? A whole lot ... and not at all. Like a lot of carless New Yorkers, I am generally confused by bursts of populist outrage over high gas prices. But I have always assumed that the anger is genuine — that hard-working Americans, who already spend a lot on gas, are thrown into turmoil when they have to spend even more. After all, 63 percent of Americans insist that these price increases have caused them some financial hardship.

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Oil-funded study: More drilling would add 1 million jobs

The United States could create more than one million jobs by 2030 by expanding offshore drilling, limiting federal regulation of shale gas development and quickly approving a Canadian oil sands pipeline, according to a study commissioned by a major oil industry trade group.

June consumer prices record largest drop in a year

Consumer prices fell slightly more than expected in June to post their biggest drop in a year on weak gasoline costs, government data showed on Friday, pointing to a cooling in commodity-driven inflation pressures.

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