The Latest Breaking News from Gas Prices

JIDDA, Saudi Arabia — President Joe Biden shared a fist bump Friday with the leader of the oil-rich country he once vowed to make a “pariah” over its human rights abuses as the White House scrambles to mitigate record inflation and high gas prices hammering Americans in an election year.

JEDDAH, Saudi Arabia — President Joe Biden met here on Friday with the leaders of the oil-rich country he once vowed to make a “pariah” over its human rights abuses as the White House scrambles to mitigate record inflation and high gas prices hammering Americans in an election year.

Most of them are small businesses.

Issue weighs on president as midterms approach

"Americans will spend $165 million LESS today on gasoline than a month ago," said GasBuddy's Patrick de Haan. "We're on target for the national average to drop to $3.99 by Aug 14."

Amid worries about a possible recession, energy-producing states had the biggest drops in GDP during the first quarter of this year, despite skyrocketing oil and gas prices, new government figures show.

Stock futures edge higher as inflation data looms; Core inflation in focus as headline expected to spike to 8.8%; Twitter sues Musk in Delaware for backing out of takeover deal; Gas prices extend declines amid crude pullback, Americans saving $140 million a day and Delta Air lines earnings on deck…

We all have a very full platter this summer. A sinking economy. Scandalously high gas prices. An obstinate, and reemerging, coronavirus. War in a foreign land. Cryptocurrency collapse. And then there are the shortages. Tampons, baby formula and the one my wife brought to my attention — the Sriracha shortage.

Inflation hit a new, four-decade high of 9.1% last month, fueled in part by record high gasoline prices. Gas prices have since fallen, but overall inflation is still elevated.