Gasoline prices have been surging around the world due to a combination of rebounding demand, sanctions on oil producer Russia after its invasion of Ukraine, and a squeeze on refining capacity. The price of U.S. gasoline averaged more than $5 a gallon for the first time on June 11. U.s. President Joe Biden is supposed … Read more
Canadians paid 6.8 percent more for goods and services in April than the previous year, owing primarily to higher food and housing costs, according to the government statistical agency on Wednesday. This was a slight increase from the previous month, but analysts predict that prices will continue to rise, as will the central bank’s key … Read more
Americans increased their shopping spending for the fourth consecutive month in April, with inflation at a 40-year high, as auto sales rebounded, according to government data released Tuesday, According to the Commerce Department, US retail sales increased 0.9 percent month on month to $677.7, while auto sales increased 2.2 percent in April after declining in … Read more
WASHINGTON: President Joe Biden offered independent US farmers $1 billion in aid Monday as part of a battle against meatpacking giants he accuses of building monopolies to squeeze out smaller competitors. “We’re here to talk about strengthening competition, which will bring down costs,” Biden told a virtual meeting of independent farmers and meat producers. Calling the … Read more
LONDON: Despite warning from analysts, US President Joe Biden finally announced the release of crude oil from the country’s strategic stockpile, a unilateral move first mooted by his Energy Secretary Jennifer Granholm in October, as he seeks to curb inflationary pressure in the US economy, Arab News reported. Gasoline prices nationwide are averaging about $3.40 a gallon, … Read more
