Gas & Oil
European Union countries have agreed to impose a price cap on Russian oil and other new sanctions after Moscow illegally annexed four regions in Ukraine.
The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices.
Rail is never oil producers’ first choice, but a new transcontinental line could become the most attractive backup option when pipelines fail.
Jennifer Granholm said the U.S. will produce a record amount of oil next year.
WHAT'S HAPPENING
Falling prices for gas, airline tickets and clothes are giving consumers a bit of relief, although inflation is still close to a four-decade high.
A dense black smoke cloud from the fire has spread about 62 miles west toward Havana.
The average price at the pump is down 55 cents over the past six weeks, but it’s $1.32 higher than it was one year ago.
"We already have many gas stations around the country that are below $4,” Amos Hochstein told CBS' "Face the Nation."
The gas station's owner said it would "make things right" after an error impacted drivers in LaFayette, Georgia.
The move is meant to ease financial pressures at the pump for millions of Americans.