Gas Prices

Congressional lawmakers blasted the United States's continued reliance on foreign energy after OPEC+ agreed to slash oil production by more than two million barrels a day.

Ministers from OPEC+ on Wednesday said they would cut oil production by 2 million barrels a day in a move expected to raise gas prices.

The European Union agreed to hit Moscow with another round of sanctions and issue a price cap on Russian oil exports in an attempt to target its war chest.

Consumers should gear up for higher gasoline prices as a result of foreign oil production cuts and a series of domestic factors that are limiting supplies, according to energy analysts.

Oil industry leaders wrote a letter to Energy Secretary Jennifer Granholm on Tuesday, urging her to take an oil export ban off the table amid high energy prices.

Oil prices climbed as much as 4% Tuesday, topping $86 per barrel level. Meanwhile, the national average gas price is currently sitting at $3.80 per gallon, according to AAA.

A pair of lawmakers in New Jersey want to make Costco gas accessible to everyone, not just members. The warehouses are known for offering gas at cheaper prices than other retailers.

California implementing a windfall tax on oil companies would be harmful, FOX Business contributor and Price Futures Group senior market analyst Phil Flynn said.

United Refining Company CEO John Catsimatidis explained why Russia and the OPEC nations are pushing for higher oil prices and how much Russia stands to gain.

GasBuddy's Patrick De Haan addressed the impact of U.S. oil refinery shutdowns and explained why gas prices in some parts of the country are rising again.

Energy expert and FOX Business contributor Phil Flynn says President Biden's warning to gas companies about price gouging ahead of Hurricane Ian is "mind-boggling."

President Biden, speaking at the White House, warned energy industry executives not to raise the price of oil or gas in the aftermath of Hurricane Ian.

Biden once again took aim at oil and gas companies on Monday, accusing them of squeezing consumers with high gas prices despite a drop in the price of oil.

JPMorgan Chase CEO Jamie Dimon warned that the U.S. is not on "the right path" as pressure builds to cut investments in the oil and gas energy sector.

Gas prices increased by one cent Wednesday ending a nearly 100 day streak of price declines, according to data from AAA. The last time prices rose was on June 14.

Treasury Secretary Janet Yellen warned that gas prices in the U.S. could shoot up again this winter as the European scales back its purchases of Russian oil.

Gas prices in New Jersey and around the nation continue to drop as the usual decline in demand after Labor Day helps to ease prices at the pump.

French tableware brand Duralex is joining an array of European firms that are limiting production because of soaring energy costs provoked by Russia's war.

Strong earnings from the oil and gas sector could invite punitive taxes, but failed past tax policy could make matters worse, not better.

Fossil fuel trade group Western Energy Alliance said it would appeal a federal court ruling issued last week that affirmed the Biden administration's policy delaying oil leases.