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Will High Gas Prices Disrupt the Economic Recovery? [VIDEO]

Oil Tops $100 a Barrel Over Libya Unrest; Are Higher Gas Prices Coming?

U.S. oil prices hit $100 a barrel today, driven by fears that instability in Libya will continue to choke off that nation's oil exports. It's clear that rising oil prices will translate into higher gas prices for U.S. consumers. But how high will prices go, and when will they come down? Here's an overview of what industry...

Gasoline Prices Highest Ever for This Time of Year

NEW YORK - U.S. gasoline prices have jumped to the highest levels ever for the middle of February. The national average hit $3.127 per gallon on Friday, about 50 cents above a year ago. The price is about 6 percent higher than on this date in 2008. The next day, pump prices began a string of 32 gains over 34 days. They...

Opinion: Bring on the Gas Tax

(Dec. 9) -- After falling three votes shy of the 14 needed, the deficit reduction commission report won't make it to Congress. And dying on the vine with it is the suggestion of a 15-cent increase in the federal per-gallon gas tax. With gas prices rising this winter and the economy still struggling, any talk of a gas tax...

Houston Ship Channel Suffers $1 Billion Barge Accident [PHOTOS]

(Oct. 4) -- How many barges is too many to push at one time? The answer would appear to be three, based on Sunday morning's accident in the Houston Ship Channel, which could cost an estimated $1 billion in economic losses, according to the U.S. Coast Guard. The channel was closed at 6 a.m. Sunday after a towing vessel...

Background on gasoline prices

The usage and pricing of gasoline or petrol results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply).

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