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The Latest Breaking News from Gas Prices

Trump Calls High Gas Prices "Peanuts" as Americans Pay More at the Pump

President Donald Trump dismissed the economic pain of rising gas prices as "peanuts" Tuesday, even as Americans face the highest fuel costs in years and inflation shows new signs of pressure from the war with Iran.

Latin Times

Current price of oil as of May 19, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

What soaring gas prices mean for Texas and how long it could take for costs to come down

Here’s what you should know about the market forces at play and what higher prices mean for oil companies and the state.

The Texas Tribune

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Iran shrugs as Trump continuously flip-flops between threats and extending peace talk deadlines

ANALYSIS: Iran has figured out that Trump’s bluster and swirl of social media threats doesn’t matter much so long as they control the Strait of Hormuz, Andrew Feinberg writes

The Independent UK

Donald Trump and Josh Hawley's Federal Gas Tax Holiday Would Save Drivers Less Than $9 Per Month

It was a bad idea when Biden proposed it, and it's a bad idea now that Trump is proposing it. Want lower gas prices? End the war.

Reason

Though gas prices dropped by a cent last week experts warn another spike could be coming ahead of Memorial Day

Oil markets are sensitive to the ever-shifting geopolitical tensions between the US and Iran, thus making gas prices volatile

The Independent UK

Trump’s trip to China doesn’t move the needle on low approval ratings

President Donald Trump returned from China with few concrete wins, and his refusal to owe Xi Jinping a favor in return for the Chinese president’s help reopening the Strait of Hormuz highlights his lack of a plan to ease Republicans’ gas prices concerns as Democrats hammer his 79-day-old conflict. After…

Roll Call

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The Iran war is now changing your Social Security check; here's the new 2027 COLA number

Social Security COLA update 2027: Gas prices in America have surged above $4.10 per gallon, up sharply from $3.17 last year, and the impact is now reaching Social Security checks. The latest inflation spike, fueled by global oil tensions and the Iran conflict, is increasing pressure on millions of retirees…

The Economic Times

Lindsey Graham rants about Churchill and Nazis when asked to defend Trump’s comments on Americans’ finances

Graham compares Trump to Winston Churchill amid the war in Iran causing gas prices to spike

The Independent UK

India must push solar, grid reforms to navigate oil price rise: Ex-NITI Aayog member Arvind Virmani

The Economic Times

3 Stocks to Own If Gas Prices Keep Rising

With gas prices topping $4.50 per gallon, Par Pacific, Diamondback Energy, and Scorpio Tankers are positioned to benefit from rising energy costs.

MarketBeat

Major Auto-Insurance Rule Changes in 2026: Could Your Premium Jump? Here’s the State-by-State Breakdown

Gas prices already spark enough road rage, but 2026 is delivering another expensive surprise straight to American drivers’ wallets. States across the country continue rewriting auto-insurance rules, raising minimum coverage requirements, tightening claim regulations, and forcing insurers to recalculate risk in ways that could hit monthly premiums hard. Drivers who…

Everybody Loves Your Money

Iranian Hackers May have Infiltrated Into US Gas Station Systems: Report

Gaining access to automatic tank gauge (ATG) systems may result in a hacker exploiting the system to cause detection of gas leaks go unnoticed

International Business Times

Beer demand across the US is plunging - and the Iran war could be to blame

California saw the largest drop in beer sales nationwide, followed by Arizona and Texas, according to data

The Independent UK

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The Independent UK

Republican rep brushes off rising gas prices because that’s ‘the world we live in’

IN FULL

Fortune

Current price of oil as of May 15, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

The Mary Sue

Alabama man goes through Walmart self-checkout. Then he uses a scanning trick to dramatically alter the price

If there was ever a need for “hacks” to save on groceries, the time may be right now. As grocery and gas prices continue to rise, along with inflation, Americans are definitely feeling it. According to a report by The Economist, the United States is facing a “grocery-price shock,” partly…

The Independent UK

Republican gives stark message to Americans reeling over rising gas prices: ‘That’s life’

Jim Jordan argued the higher prices were worth paying if it meant tackling Tehran, despite the lack of regime change.

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The Conversation

The blind spot in Europe’s energy strategy: almost all of its building data is based on approximations and averages

Europe is once again eyeing international energy markets with unease. The war in Ukraine, geopolitical tensions in the Middle East and the extreme volatility of gas prices are all stark reminders of a painful truth: the continent’s energy security is still at the mercy of external factors.

MarketBeat

Summit Midstream Partners Q1 Earnings Call Highlights

Summit Midstream Partners (NYSE:SMC) said first-quarter 2026 results were broadly in line with expectations, as strength in its Rockies business helped offset weaker volumes and lower realized residue gas prices in its MidCon segment. President, CEO and Chairman Heath Deneke said Summit reported fi

Roll Call

At the Races: Hitting the gas

Welcome to At the Races! Each week we bring you news and analysis from the CQ Roll Call campaign team. Know someone who’d like to get this newsletter? They can subscribe here. By Niels Lesniewski, Mary Ellen McIntire and Daniela Altimari As the Iran war continues to roil global oil markets, rising…

The Independent UK

American consumer spending slowed in April as soaring gas prices hits households

March had marked the largest monthly surge in retail spending in over three years, largely driven by a rapid spike in gas prices

Euronews

Europe’s household energy prices surge after Iran war: Which capitals were hit hardest?

Household gas prices rose across EU capitals between early February and early April, reflecting the impact of Middle East tensions. However, electricity prices fell on average, highlighting diverging trends in Europe’s energy markets.

The Economic Times

US Senate confirms Kevin Warsh as Federal Reserve chair, following Jerome Powell

Kevin Warsh is now the new head of the Federal Reserve. He takes charge at a difficult economic time. Inflation is high and gas prices are rising. The Fed faces internal disagreements. President Trump has pressured the Fed for lower interest rates. Warsh promises independence. He faces challenges in managing…

The Conversation

Why Pennsylvania’s low-income residents are feeling the squeeze as gas prices rise

When gas prices rise, not everyone feels the pain equally. For low-income and rural Pennsylvanians, a trip to the gas station can mean choosing between a full tank and groceries. Many factors, such as crude oil costs, distribution and marketing, and to some extent Pennsylvania gas taxes all add up…

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