Topic: U.S. Strategic Petroleum Reserve

Memorial Day: good news on gasoline prices, and it may get better

Memorial Day weekend, the start of the summer driving season, will see gasoline prices at their lowest in two years. Concerns about Europe and optimism about Iran have helped cut the cost of crude.

'Buffett rule' fails, but it will be back

The Buffet rule to raise taxes on millionaires couldn't get through the Senate, but both parties promise to make it a campaign issue as the nation heads toward Election 2012. 

Americans spread blame for high gas prices, foresee $4.75 a gallon

Americans foresee, on average, gas prices at $4.75 a gallon within three months, shows a Christian Science Monitor/TIPP poll. They most blame the oil industry and Wall Street. But they expect politicians to act.

Is $3 a gallon a historical relic? What could bring gas prices back to earth.

A return to the $3-a-gallon gas prices of yore is possible, but it will require a number of factors. Among developments experts say could help: improved fuel-efficiency and a calmer Middle East.

Gas prices fact check: Six ideas in Congress, but can they work?

Soaring gas prices have also shown a consistent and significant ability to push members of Congress over the deep end. Here's the experts' take on 6 ideas floating through Congress.

Oil nears $110 a barrel, gas prices jump 12 cents a gallon in a week. Eek!

Tensions with Iran have markets 'convinced there will be some type of confrontation,' says an energy analyst. Oil buyers are starting to 'horde,' and nervousness is affecting gas prices.

High gas prices: How big a problem for Obama?

The last five times gas prices have spiked, the incumbent party has lost the presidential election. On Tuesday, the national average price of gasoline was $3.57 a gallon.

Gas prices begin climb toward $4.50 a gallon, experts say

Gas prices could hit $4.50 a gallon nationwide by summer because of sanctions on Iran, a frigid winter in Europe, and logistical challenges in the US. The current all-time high is $4.11.

Oil prices: What happens if Iran shuts down the Strait of Hormuz?

About 35 percent of the world’s seaborne traded oil moved through the Strait of Hormuz in 2011. Energy analysts don’t doubt that Iran could disrupt the flow of oil in the strait if it wants to.

Gold prices follow each twist in debt-limit talks

Gold prices got whipsawed Wednesday as investors tried to determine whether a debt-limit deal would happen. If it doesn't, gold prices could soar.

Oil futures top $100 a barrel

Oil futures swayed by better outlook for US economy and Greek aid deal. It's the first time since early June that oil futures have breached the $100 level.

Oil prices go up, but gas prices go down. What's going on?

Oil prices dipped right after the Obama administration announced it would tap reserves, but the price has rebounded. Gas prices, meanwhile, fell 7 cents a gallon in the past week, averaging about $3.54 a gallon.

Will Michele Bachmann's gaffes hurt her presidential candidacy?

Flaps about Michele Bachmann's grasp of Colonial history or movie-star birthplaces probably won't mean a lot to many voters. But her misstatements of fact about current political history could be a problem.

Newt Gingrich's biggest problem: too many words, or too little cash?

Newt Gingrich said his recent campaign troubles came from consultants who wanted him to measure his words more carefully. Were they right? Or does he just need more cash?

Crude oil steady after big price drop

Crude oil moved above $91 a barrel Friday, a day after the International Energy Agency announced it would release 60 million barrels of crude oil from reserves.

Why is Obama tapping the Strategic Petroleum Reserve, really?

The administration's decision to release 30 million barrels of oil from the Strategic Petroleum Reserve is pure politics, say some. The White House says it's trying to offset a drop in Libyan light sweet crude – needed for gasoline – at the height of the summer driving season.

US to tap Strategic Petroleum Reserve to drive gas prices down

Energy Secretary Stephen Chu cites crude oil disruptions in Libya and elsewhere as reason to open the Strategic Petroleum Reserve now. Gas prices, however, have been falling in recent weeks.

Oil price drop is second largest on record

Oil price drop: Thursday's oil price drop was the second largest one-day drop on record. Here is what triggers these drops.

Gas prices too high? Obama may not think so. He's pumped to use high oil prices.

Gasoline prices in the US now average over $3.50 a gallon, and may be heading for $4. Obama is considering a move to lower prices by selling oil from the Strategic Petroleum Reserve. But his actions say otherwise.

Gas prices out of control? Seven ways lawmakers could help – or hurt.

Gas prices are approaching $4 a gallon and oil prices are above $100 a barrel, leading politicians in Washington and statehouses to propose a flurry of legislation. Some proposals strive to quell voter angst while others might balance budgets by raising gas prices.

USA

What's in the House offshore-drilling bill?

The House of Representatives approved a bill Tuesday night that would relax the federal ban on offshore drilling and try to expand renewable energy. Here's a breakdown.

As Gustav nears, oil companies shut down rigs

Disruptions in supply could push up pump prices, as they did after Katrina.

Gas is affordable

Pain at the pump was higher in the early 1960s.

Congress deadlocked over offshore drilling

The GOP blocked three energy bills last week to force Democrats to lift a drilling ban.