High oil prices are usually blamed for record gas prices, but there’s also a refinery shortage. More oil’s meaningless if we can’t convert it to gas.
Author: Medora Lee, USA TODAY
Inflation’s wrath has Americans racking up high debt. What at-risk households need to know
Consumers struggling to keep pace with inflation are leaning on credit cards and loans to stay afloat. But at what price down the line?
US gas prices continue to rise to record highs. Expect a ‘cruel summer’ ahead
More record pain at the pump is expected. EU’s plan to ban Russian oil means less oil and gas supply, while China’s demand will rise out of lockdown.
Inflation, and oil, and flights, oh my! Here’s why airlines can pass on some additional costs to travelers
Consumers, keen to make up for lost time during COVID, are ignoring soaring inflation, high oil prices, and pricier airfares to travel this summer.
How people plan to deal with inflation, the unwanted guest, at the Memorial Day BBQ
Inflation’s outsized presence at this year’s Memorial Day BBQ makes consumers cut back, use more coupons, shop sales or skip celebrating altogether.
Fading confidence Fed can avoid recession, even among Fed officials, is hurting markets, analysts say
Jerome Powell’s words suggest the Fed is growing less certain it can avoid recession, triggering a sell-off that has sent S&P 500 into a bear market.
Target plans discounts, inventory switch to match spending shifts as inflation soars
Consumer spending is quickly shifting, prompting swift action by retailers like Target to switch up its inventory and take cost-cutting measures.
Fintechs launch crypto, cash-back rewards for college to help parents save for their kids
Parents will soon be able to invest in bitcoin for their kids’ investment account or spend on their credit cards to earn cash-back for college funds.
S&P 500 falls from record high to near bear market in 5 months: How did it happen so fast?
The S&P 500 has fallen from a record high to near bear market in 5 short months, leaving some wondering what happened and how did we get here so fast?
Bear market fears and retirees: Seniors take steps to protect savings against stock plunge
Experts offer seniors tips to survive stock market plunges, soaring inflation, rising interest rates, and possible recession.