7/13/22 The Real Reason Gas Is So Expensive? The US Needs More Refineries No US president has been reelected with gasoline prices above $4 a gallon, and the price at the pump is almost $4.70 this summer. It's the single biggest economic threat to Joe Biden's presidency. Biden's first response was urging OPEC to raise global oil supplies, with some success. He tried to shame US shale drillers, too, for failing to put rigs back to work, with less success. Then administration officials began to confront an arguably bigger and longer-term obstacle to reining in the fuel prices that have sent inflation to the highest level in decades: America's refining complex is in decline. 7/14/22 Should You Tip New Jersey Gas Attendants? (Opinion)
People are feeling the Biden economy across the country as middle-class and working-class families struggle with out-of-control costs as inflation tops a 40-year high. It's understandable in this current climate that people are trying to protect and conserve every dollar. So I asked the question on the show about tipping. There seems to be a trend in the Garden State of people tipping the gas attendant. 7/15/22 FDA Sends Warning Letters to Synthetic Nicotine Product Manufacturers The U.S. Food and Drug Administration (FDA) issued its first two warning letters to manufacturers for unlawfully marketing non-tobacco nicotine e-liquid products without the required authorization. The two companies that received the warning letters were AZ Swagg Sauce LLC and Electric Smoke Vapor House. In March, legislation was passed that gave the FDA authority to regulate synthetic nicotine products. Manufacturers, distributors, importers and retailers of tobacco products containing non-tobacco nicotine (which is nicotine not made or derived from tobacco, such as synthetic nicotine) must ensure compliance with applicable requirements under the Federal Food, Drug and Cosmetic Act. In addition, anyone who manufactures, compounds or processes synthetic nicotine products must register as such with the FDA and list all these tobacco products that they manufacture, prepare, compound or process for commercial distribution. 7/15/22 N.J. Is Close To Gas Falling Under $4 A Gallon. What's Driving The Drop? How Low Will It Go? A month ago, filling your gas tank was like getting a hard slap across the face when looking at the final tally, as prices peaked over $5 a gallon in New Jersey and the nation. Now, a petroleum expert says New Jersey could be 72 hours away from dipping under the $4 a gallon mark for the first time since early March. Set your watch. "I think the first stations will fall under $4 a gallon in New Jersey in the next 72 hours or so," said Patrick DeHaan, Gas Buddy petroleum analyst. 7/15/22 1 Big Thing: Gas Stations Evaporate The number of gas stations has been in steady decline for decades. Volatility in gas prices - along with the rising popularity of electric vehicles - will squeeze them even further, Axios' Felix Salmon reports. Several California cities have banned new stations. But most gas stations aren't owned by big multinational corporations. The ups and downs of fuel prices are cutting into many of their bottom lines. Gas prices, after spiking upwards, have now declined for 30 consecutive days, per GasBuddy. That's good news for drivers, but terrible news for gas station owners. 7/19/22 'The New Normal'? In NJ, Higher Prices May Be Here To Stay, Economists Say With prices rising at their fastest rate in more than four decades, the question is on the mind of every driver, homeowner, shopper and saver in New Jersey: Where will it end? In the Garden State, gas prices have spiked 44% in the past year. The cost of a new car in the New York metro area jumped 16% in June from a year earlier, according to the U.S. Labor Department. Meat, chicken, fish and eggs climbed 10%. Housing costs were up 4%. Economists expect the pain to drag on at least through the end of the year. Volatile energy and food prices may come back down, but some of the eye-watering increases are likely here to stay. 7/20/22 Consumers See Some Relief at the Pump Gas prices continue to fall, with the U.S. average retail gasoline price at $4.47 per gallon-the first time in nine weeks the average price has been below $4.50, according to AAA. Prices are falling due to a decrease in demand and lower global price for oil. "Global economic headwinds are pushing oil prices lower and less expensive oil leads to lower pump prices," said Andrew Gross, AAA spokesperson. "And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices." |
