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Only four months after peaking at an unheard of $4.11 a gallon, the national average price for gasoline tumbled below $2 Friday, its lowest point in more than three years.
In this tiny reservation town a hundred miles from the Canadian border where temperatures once hit 60-below zero, a Southern twang is sometimes heard over the din at the local diner and there is talk of Texas tea beneath the streets.
Exxon Mobil Corp., the world’s largest publicly traded oil company, reported income Thursday that shattered its own record.
Record crude prices this summer are translating into huge profits, as BP and Occidental Petroleum showed Tuesday, but some energy companies are bracing for tougher times, keeping a closer tab on cash and cutting spending.
Gasoline prices have fallen below $2 a gallon in some parts of the U.S. as the impact of plunging oil prices and reduced driving are finally taking hold.
With oil prices crashing and supplies backing up, OPEC ministers meeting Friday in Vienna face a number of thorny obstacles to regaining control of the market.
It's almost like a surprise stimulus check: Gas prices have fallen so fast that the nation has found itself with an extra $125 billion to spend. But don't expect the freed-up cash to pump much life into the economy.
Russia, Iran and Qatar took their first serious steps toward forming an OPEC-style cartel for natural gas on Tuesday, a prospect that has unnerved energy-importing nations in Europe and the United States.
After years of a relatively low profile in the alternative fuel discussion, compressed natural gas vehicles are now at the forefront of a national debate, thanks to T. Boone Pickens.
The realization that the U.S. may be headed to its worst recession in over a generation have trumped what should otherwise be good news: The return of $3-a-gallon gas.
As oil prices zoomed toward an unheard of $147 a barrel this summer, it seemed every prediction that oil would approach $200 was a self-fulfilling prophecy, until suddenly it wasn't.
Prices at the pump are dropping fast, and gas could fall below $3 a gallon in a matter of weeks, if not sooner. Does that mean Americans will return to their gas-guzzling ways?
The number of Americans whose electricity or gas has been shut off for nonpayment of their bills is up sharply in many parts of the country as people struggle in a shaky economy.
Across a section of the South, a hurricane-induced gasoline shortage that was expected to last only a few days is dragging into its third week.
A fuel shortage in the Southeast is pinching independent stations that rely on gas sales to lure customers who also buy snacks, soda and other incidentals.
This is how serious the Southeastern gas shortage has become: There's talk of calling off college football.