As other parts of the economy are roiled by crisis, gas prices are holding steady. The national average price for gasoline fell four cents to $3.43 per gallon last week, according to AAA's weekly survey.
That is four cents higher than a month ago but 80 cents less than a year ago. In the meantime, demand for gasoline is surging.
“We may be seeing a return to seasonal trends in demand with warmer weather and longer days,” said Andrew Gross, AAA spokesperson, in a press release.“But waffling oil prices could mitigate any increase at the pump for now.”
New data from the Energy Information Administration (EIA) showed that gas demand jumped from 8.59 million to 8.96 million barrels per day last week. The surge in demand drew down U.S. gasoline stocks by 6.4 million barrels.
In most cases, higher demand from drivers would push up the price of gasoline, but lower oil prices have helped keep prices down.
A new study examined the link between mental health and internet use and didn't find that it was consistently linked to negative psychological outcomes.
Amazon announced that it's launching 'Q,' a business ChatBot powered by generative AI tech similar to ChatGPT.
Berkshire Hathaway Vice Chair Charlie Munger has died at the age of 99.
Stocks were up slightly after the opening bell as optimism grew that major central banks may be done raising rates.
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A ransomware attack has prompted a health care chain that operates 30 hospitals in six states to divert patients from at least some of its emergency rooms to other hospitals, while putting certain elective procedures on pause, the company announced.
Amazon rolled out its palm-based identity service for businesses.
Online fashion retailer Sheen is reportedly said to go public. Multiple media outlets reported that the Chinese-founded company has filed confidentially for an initial public offering in the U.S.
Stocks were little changed on Tuesday after a strong month and as earnings reports wind down.
