Energy, Gasoline Prices | featured news

Crude-oil prices fell nearly 2% on fresh speculation that developed countries will release strategic stockpiles in an effort to combat high crude prices.

U.S. gas prices jumped more than 11 cents per gallon over the past two weeks, but may be peaking as the price of crude oil holds steady, according to the latest Lundberg Survey.

For all the domestic political talk about high gas prices, President Obama says one major factor can be traced overseas: Iran.

Families canceling vacations. Fishermen watching their profits burn up along with their boats' gasoline. Drivers buying only a few gallons of gas at a time because they can't afford to fill the tank. From all corners of the country, Americans are irritated these days by record-high fuel prices that have soared above $4 a gallon in some states and could top $5 by summer. And the cost is becoming a political issue just as the presidential campaign kicks into high gear.

Wooing a nation of increasingly angry motorists, President Barack Obama and his Republican rivals are all plunging into gas-pump politics, seeking the upper hand as energy becomes a driving issue in the election campaign....

Thanks to the circular firing squad nature of the 2012 Republican presidential primaries, it had begun to look as if President Obama would coast to re-election in November. But then came along high gas prices. The recent dramatic increase in gas prices could become the issue that slows the economy, stalls the recovery and sinks the president's chances at a second term.

It's the political cure-all for high gas prices: Drill here, drill now. But more U.S. drilling has not changed how deeply the gas pump drills into your wallet, math and history show....

In another sign that higher gas prices are squeezing consumers, the government's monthly measure of inflation rose in February at the strongest pace since last April.

Against the backdrop of gasoline prices rising at the pump in an election year, a new Obama administration report cites “significant progress” in reducing foreign oil imports and increasing domestic oil and gas production.

Following GOP strategy, Fox News is again blaming the Obama Administration for rising gas prices -- a claim that has been repeatedly debunked by energy analysts. But back in the summer of 2008 when the average U.S. gasoline price hit a record high of $4.11, Fox said that "no President has the power to increase or to lower gas prices" and the only way to reduce our vulnerability to gas price spikes is to use less oil.