It's July and gas is still painfully expensive. Even though oil prices have eased and that "war premium" has faded, US drivers aren't seeing relief at the pump. Gasoline and diesel margins just hit record highs, and peak summer travel is piling on more pressure. So where's all your money going? From refinery bottlenecks to strong demand, we break down why fuel inflation is sticking around and what it means for your road trips and wallet this summer.


US gas prices stuck near record highs even as oil cools

The trajectory of global petrol demand is set for a major deceleration in 2024, analysts predict, with growth potentially halving compared to previous years. This shift, as reported by Reuters, is primarily attributed to the increasing adoption of electric vehicles (EVs) in major markets such as China and the US, alongside a return to pre-pandemic consumption levels following last year's bounceback.

Global gasoline demand faces deceleration with the growth of electric vehicles

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024.

EV growth in China, US could lead to slowing of gasoline demand this year

Russia has ordered a temporary ban on gasoline exports. The six-month ban on gasoline exports will start from March 1. The ban aims to keep prices stable amid rising demand from consumers & farmers

Why has Russia halted gasoline export for 6 months?

The consumer prices in the world's largest economy rose by the most in 14 months in august. That's largely due to a rise in the cost of gasoline. However, the annual rise in underlying inflation was the smallest in nearly two years. This is significant as it is likely to give the Federal Reserve some space to leave interest rates unchanged this month. The consumer price index increased by 0.6% last month, the largest gain since June 2022, after rising 0.2% for two straight months. Gasoline prices, which jumped 10.6% after climbing 0.2% in July, accounted for more than half of the increase in the CPI.

Gasoline fuels US inflation

Saudi Arabia's overall spending on gasoline subsidies rose sharply in the last two years, ranking first among the Group of 20 nations in terms of per capita spending.

Saudi Arabia leads G-20 with highest $7,000 per capita fuel subsidies

In a bid to tame the rising gasoline prices, the United States is reportedly planning to release 14 million barrels of oil from its strategic reserves, Reuters reported quoting sources.

US to release 14 million barrels of oil from reserves to cap gas prices: Report

Paris' town hall decision to make gasoline-fuelled motorcycles pay for parking kicked in on Thursday, triggering reactions from riders ranging from resignation to dissatisfaction. Molly Gambhir explains.

WION Fineprint | Motorbikes in Paris start paying for parking

For the first time in more than five months, gas prices dropped to slightly under $4 per gallon in the United States. This is wonderful news for consumers who are dealing with high prices for many other necessities.

For the first time since March, US gasoline price drops below $4

Oil prices were little changed on Thursday as markets weighed a rise in US gasoline and distillate inventories and worries about slower economic growth amid concerns of supply tightness.

Oil prices stable as market weigh fuel stocks amid supply concerns

The US administration is searching for ways to save Americans from high-fuel prices. President Joe Biden has said that he is considering announcing a federal holiday which would save 5 cents per liter in fuel cost.

US to have a gasoline tax holiday | Will US plunge into a recession?

Under pressure from furious motorists and truck drivers, the White House is searching for ways to save Americans from high fuel prices. President Biden has said that he is considering announcing a tax holiday on which people could save almost 5 cents per liter in fuel costs.

United States: Gasoline tax holiday proposed to curb inflation

After rising to seven year highs, this week oil prices plunged today morning it's because of increasing US crude and stockpiles of fuel, it prompted investors to take profits from the rally.

US crude oil, gasoline stocks rose last week

Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on November 4.

Crude oil prices fall after China releases petroleum reserves

US President Joe Biden has said that eh expects gasoline prices to fall by next year and that any further price reduction depends upon actions of Saudi Arabia.

US President Joe Biden expects petrol prices to fall in 2022

India's gasoline demand is set to hit a record this fiscal year, with consumption accelerating as more people hit the road for business and leisure travel after easing of COVID-19 curbs.

India's gasoline demand seen hitting record as COVID-19 curbs ease

An ex-US Marine has been charged with murdering his wife in Australia. The charge says that he killed her by pouring Gasoline on her and setting her on fire. Brian Earl Johnston (34) has been charged with murder and breaking restraining order.

Ex-US Marine kills wife by pouring gasoline on her

The US pipeline network shut down by a cyber attack said Saturday it has returned to fully "normal operations," easing concerns but not immediately ending gas shortages affecting many Eastern states.

US pipeline hit by hackers says fully back to 'normal'

Colonial Pipeline began to slowly restart the nation’s largest fuel pipeline network on Wednesday after a ransomware attack shut the line, triggering fuel shortages and panic buying in the southeastern United States.

Colonial Pipeline slowly restarts as Southeast US scrambles for fuel

Fears the shutdown of a major fuel pipeline network would cause a gasoline shortage led to some panic buying and prompted US regulators on Tuesday to temporarily suspend clean fuel requirements in three eastern states and the nation's capital.

Pipeline shutdown sparks fear of US gasoline shortage

Cyberattack-hit top US pipeline network Colonial Pipeline said on Monday that it had begun phased restart of a giant US gasoline pipeline. The company said it hoped to restore operations by the end of the week.

Colonial pipeline to restore Gasoline flow this week

Haim and Taylor Swift have a special release for their fans. The group recently released the full remix of the band's single 'Gasoline,' one day after sisters Este Haim, Danielle Haim, and Alana Haim confirmed their Swift collaboration with a tease on TikTok and a simple wink on Twitter, writing: "tik tok tik tok tik tok.

Haim The Band releases remix of 'Gasoline' featuring Taylor Swift

Thanks to subsidies under socialist former President Hugo Chavez and his successor and protege, Nicolas Maduro, gasoline sold by state oil company PDVSA - which has a legal monopoly on fuel sales - is essentially free in Venezuela.

Venezuela's gasoline goes from world's cheapest to steepest as fuel shortages bite

Today in History: First successful gasoline-driven automobile, German zeppelins bomb Paris and more!

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