News

Business

On HALO

2 weeks ago

White House, gas stations point fingers over stubborn prices while locations that slashed prices see boom

As oil prices react to the latest back-and-forth between the United States and Iran, fingers are being pointed as to why gas prices remain closer to $4 a gallon than $3 a gallon.The price of a barrel of oil influences the price of gas. Within the cost of a gallon, oil producers sell the oil to a refinery that in turn sells the gas to a station. Also, in the price consumers pay are state and local taxes, environmental maintenance for the station, and a credit card transaction fee.White House executive director of the National Energy Dominance Council, Jarrod Agen, says the administration sees m...