Gas - Page 13

On Wednesday, California Governor Jerry Brown evaded questions about whether he would raise taxes to pay for new road repairs. Some Democratic leaders have urged raising taxes on gas or cigarettes. But Brown remained mum on any tax hike, saying coyly, “I’m

A massive fire with 150-foot flames that were visible from 20 miles away caused home evacuations but no injuries in the rural South Texas community of Cuero.

Russian President Vladimir Putin used his trip to Italy to attempt to persuade Italian officials to end the sanctions against his country, which he claims hurt Italian businesses. He also snuggled close with disgraced politician Silvio Berlusconi.

FIFA President Sepp Blatter allegedly will not enter the United States due to an FBI investigation over rewarding the 2018 World Cup to Russia and the 2022 World Cup to Qatar.

Ukraine and Turkey have jointly proposed elevating the level of defense cooperation between the two. A Ukrainian delegation recently traveled to Ankara to put plans together.

Iran, which has had its oil exports restricted between 2012 and 2014 by economic sanctions so its exports were virtually cut in half, would likely increase its imports if the U.S. and the other P5+1 nations make a deal regarding Iran’s nuclear program. Their increased exports might cause American gas prices to dip, leaving consumers happier until the Iranian nuclear program becomes operational.

The California State Board of Equalization voted unanimously Tuesday to reduce the state’s excise tax on gasoline by six cents, although consumers are unlikely to see the tax reduction reflected in prices at the pumps.

The government of Venezuela, believed to be the most oil-rich nation in South America, is considering raising gas prices to keep the national economy afloat, though such a move could spark protests and unrest in a nation already rife with political tension.

For the first time since 2009, the price of United States oil fell below $50 a barrel, and Brent crude (West Texas Intermediate crude) fell to a five-and-a-half year low of $51.12 per barrel. That statistic is in great part due to fracking and a global excess in oil supply, combined with OPEC’s refusal to slow its production.

The recent plunge in gas prices has been welcome relief for many, but today’s price at the pump still isn’t what it used to be in nominal and inflation-adjusted real terms, reports the Wall Street Journal.