gasoline prices

‘A slap in the face’: Saudis spurn Biden’s request to boost oil output

‘A slap in the face’: Saudis spurn Biden’s request to boost oil output

Analysts called President Biden’s trip to Saudi Arabia a dud after oil-producing states announced Wednesday that they would increase production by just 100,000 barrels a day starting next month, a drop in the bucket compared to America’s vast energy needs. The Saudi-led Organization of the Petroleum Exporting Countries and its allies announced the modest increase …

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Key inflation gauge jumps 6.8% in June as prices continue to surge

Key inflation gauge jumps 6.8% in June as prices continue to surge

An inflation gauge closely watched by the Federal Reserve jumped 6.8% in June from a year earlier, the biggest annual rise in four decades. Friday’s government figures underscore the persistence of inflation that is eroding Americans’ purchasing power, weakening their confidence in the economy and threatening Democrats in Congress in the run-up to November’s midterm …

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