Oil

The state average has now declined for nine consecutive weeks, falling a total of $1.24 per gallon since mid-June.

A massive fire broke out in Cuba at an oil tank facility in the coastal city of Matanzas, injuring more than 100 people and five in critical conditions. The disaster promises to make the island’s energy crisis even worse.

Treasury Secretary Janet Yellen spoke to Morning Edition about global efforts to choke off much of Russia's profit from oil sales and the odds of a recession in the U.S.

As many Americans continue to struggle financially because of inflation, we set out to clear the air on some common claims about what's going on.

Oil refineries have lost capacity over recent years, making it nearly impossible to increase supply and stabilize gas prices at the pump.

Gas prices are finally dropping a bit after topping $5 per gallon, but the president says he's still considering suspending the federal gas tax, which could save Americans up to 18.4 cents per gallon.

Across the globe drivers are rethinking their habits and personal finances amid skyrocketing prices for gasoline and diesel.

President Biden says he wants the biggest refiners to do more to increase gasoline supply and lower prices. He says he's ready to use emergency powers to boost capacity — but he didn't give details.

When he was running for office, Joe Biden vowed to make big changes to how the U.S. deals with Saudi Arabia. But that was before gas prices soared past $5 per gallon, making inflation his top issue.

Pipeline deliveries, which are critical to Hungary, Slovakia and the Czech Republic, won't be affected by the ban. The much more complicated issue of Russian natural gas remains unresolved.

The EU ban on Russian oil imports will likely lead to higher crude and gasoline prices, further upending energy markets.

The EU chief concedes that that getting all 27 member countries — some of them highly dependent on Russia for energy supplies — to agree on oil sanctions will be extremely difficult.