U.S. gas prices have hit a record high and are showing no signs of going down. Here's why.
Dion Rabouin breaks down all things finance, taking a deep dive into what’s making money move and why it matters.Despite forecasts for a cooling housing market in 2022, U.S. home prices are still hitting record highs, even with mortgage rates surging in recent months. WSJ’s Dion Rabouin explains what’s driving demand, evidence of a slowdown on the horizon, and what that could mean for the economy.
Photo composite: Ryan TrefesThe Ruble’s recovery is helping prop up Russia’s economy and continue its Ukraine war effort. WSJ’s Dion Rabouin explains how Russia boosted its ailing currency and how it’s affecting the global economy. Illustration: Ryan TrefesThe Dow and the S&P 500 index had their worst 100 days to start a year in more than 50 years. And the Nasdaq had its worst start to a year in the history of the index. But if history is a guide, the selling may have only just begun.
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Gas prices in Southland drop as President Biden calls for three-month federal gas tax holidayAs the price of gas skyrockets by almost 2 dollars per gallon in America, President Joe Biden called on Congress and state governments to provide direct relief to American consumers, asking legislatures to suspend the federal gas tax for three months, through September.
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Electric vehicles won't help the spike in gas pricesThe surge in gas prices — and the Biden administration's proposed gas tax holiday — illustrates how much we're still exposed to price spikes despite the emergence of EVs.
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Biden blames Russia for gas prices as he presses Congress, states and oil companiesPresident Biden on Wednesday again blamed Russia’s war in Ukraine for recent hikes in fuel prices, as he pushed for Congress to suspend the federal gas tax.
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Gas prices trigger Pavlovian political promisesCall it, for lack of a better phrase, the “Gas Price Derangement Syndrome.”
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Biden Trades Sharp Words With Chevron Chief Over High Gas PricesThe president said he 'didn’t know [oil company executives would] get their feelings hurt that quickly.'
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Explainer: Biden's U.S. fuel tax holiday plan no easy relief for gas pricesU.S. President Joe Biden wants Congress to suspend the federal fuel tax for three months to help lower record gasoline prices that threaten some of his fellow Democrats who are candidates in the Nov. 8 congressional elections.
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