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Political scientist George Friedman has postulated that if high prices for oil and food persist, they will define the fourth distinct geopolitical regime since the end of World War II, the previous three being the Cold War, the 1989–2001 period in which economic globalization was primary, and the post-9/11 "war on terror".
The national average price for a gallon of gas is going down in the U.S. with Tuesday's national average at just $3.14, according to AAA.
Crude oil prices spiked last week amid fears the Israel-Hamas war could broaden to other countries — namely Iran — a key global oil producer.. Despite last week's gains, prices are still ...
By Shariq Khan. NEW YORK (Reuters) - U.S. motorists should see gasoline prices fall below $3 a gallon for the first time in over three years as soon as next month, shortly before they go to vote ...
The 2000s commodities boom, commodities super cycle [1] or China boom was the rise of many physical commodity prices (such as those of food, oil, metals, chemicals and fuels) during the early 21st century (2000–2014), [2] following the Great Commodities Depression of the 1980s and 1990s.
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis.The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars).
Gas prices remained remarkably steady for nearly two decades, from the start of the Great Depression through the end of World War II. The price per gallon was 21 cents in both 1929 and 1946.
Data source: AAA. Why gasoline prices are so much cheaper in some regions. When you compare the price of gas in these Southern states to states with much higher average gas prices, like Hawaii ($4 ...