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Democratic senators propose ending tax breaks for big oil

WASHINGTON — Democrats in the US Senate on Tuesday proposed eliminating tax breaks for big oil firms and applying the expected $21 billion savings over 10 years to help reduce the deficit. “We all need to tighten our belts to help address the deficit, even the oil companies,” said Senator…

Gas prices hit $4 per gallon average across U.S.

NEW YORK (Reuters) – The average price for a gallon of gasoline in the United States rose 11.98 cents in the past two weeks, but last week’s fall in crude oil prices may signal lower costs to come, an industry analyst said on Sunday. The national average for self-serve, regular unleaded gas…

Boehner opens door to cutting U.S. oil tax breaks

WASHINGTON (Reuters) – Congress should consider cutting multibillion-dollar subsidies to oil companies amid rising concern over skyrocketing gas prices, House of Representatives Speaker John Boehner said on Monday. “It’s certainly something we should be looking at,” Boehner said in an ABC News interview. “We’re in a time when the federal government’s short on revenues. They…

Gasoline prices fall ahead of Labor Day weekend

Gas pump prices continue to slide as Americans prepare to fill up for Labor Day weekend There is good news at the gas pump, as Americans get ready to fill their cars, RVs and boats for the Labor Day weekend. The national average price for gasoline has been falling steadily…

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