The hit to your wallet from higher gas prices: $2,000 a year
Already slammed with the highest inflation in 40 years, some consumers say they'll cut back amid rising gas prices.
Gas Prices
Average price of gas soars
The war in Ukraine clouded investors' outlook on Friday and caused stocks to fall despite a strong jobs report. Prices Americans are paying for the basics and gas also overshadowed the increase in jobs. Michael George reports.
Unemployment hits pandemic low as inflation rises
Worries about the war in Ukraine sent stocks into a tailspin, despite a blockbuster jobs report. Meanwhile, gas prices are rising at a rate not seen since Hurricane Katrina in 2005. Carter Evans takes a look.
Americans should brace for $5 a gallon gas, analyst warns
The cost of filling up your car is soaring across much of the U.S as the Ukraine crisis further drives up oil prices.
Gas prices rise amid Russian invasion
Government and organizations are looking to confront rising gas prices. as the war in Ukraine is driving up costs and increasing uncertainty in supply routes. Washington Post reporter Steven Mufson joins CBS News to discuss the latest in the oil industry.
Powell supports interest rate hike at March meeting
The Federal Reserve chairman said the effects of the invasion in Ukraine remain "highly uncertain."
Buttigieg on Biden's State of the Union
Transportation Secretary Pete Buttigieg joins CBS News' Tanya Rivero and Tony Dokoupil to talk about President Biden's upcoming State of the Union, what the administration is doing about rising gas prices, the supply chain crisis and other major priorities and challenges.
MoneyWatch: The price of war
U.S. gas prices are up on the heels of the Russian invasion of Ukraine, but the invasion is not the only factor contributing to the increase. Jay Young, founder and CEO of King Operating Corporation, joined CBS News' Anne-Marie Green to talk about how the war is affecting the U.S. economy.
$4 per gallon gas across U.S. by April, one expert predicts
American motorists are in for at least some short-term pain at the fuel pump as oil and gas markets react to global conflict.
Energy prices soar after Russian invasion
Markets are tanking and energy prices soaring in the wake of Russia's invasion of Ukraine, as oil surged to more than $100 a barrel and gas prices in Europe jumped more than 30% in the hours after Russia launched its attack. Helima Croft, managing director and global head of commodity strategy at Mena Research, spoke with CBS News' Tanya Rivero about what the invasion means for the global energy market.
How the Ukraine crisis is already hitting Americans' wallets
With higher gas prices, inflation and supply-chain shocks, the conflict in Europe is spilling over into the U.S. economy.
MoneyWatch: Consumer spending climbs in January
Americans are spending more than expected, with the Commerce Department reporting retail sales jumped 3.8% in January -- up 13% from the same time last year. Ted Rossman, a senior industry analyst at Bankrate.com, joins CBS News to discuss the latest retail sales numbers.
Ukraine tensions drive gas prices to highest level in years
U.S. motorists are paying roughly a dollar more per gallon than they were a year ago, AAA data shows.
Democrats weigh gas tax holiday
A group of Senate Democrats proposes suspending the federal gas tax through the end of the year.
Gas prices reach record highs in Orange and Los Angeles counties
One man paid $25 for just five gallons.
Consumer Price Index jumped 7% in 2021
According to the Department of Labor, the Consumer Price Index jumped 7% in 2021. But some economists believe inflation will improve in the coming year. Wall Street Journal reporter Harriet Torry joined CBSN to discuss expert's predictions and possible moves by the government.
Inflation climbs at fastest pace in decades
Inflation surged to its highest level in nearly four decades in 2021. The Consumer Price Index increased by 0.5% in December, for a total annual increase of 7%. CBS News senior White House correspondent Weijia Jiang and CBS News congressional correspondent Scott MacFarlane join CBSN to discuss the Biden administration's plans to combat inflation and what it means for Americans moving forward.
Inflation at highest level in nearly 40 years
Inflation soared in November, as the Consumer Price Index jumped 0.8%, a 6.8% increase from the same time last year, according to data from the Labor Department. CBS News Reporter Sarah Ewall-Wice has more on the uptick in inflation to its highest level in decades.
5/13: CBS Evening News
U.S. Embassy to open in Jerusalem soon; Anger, despair in Iran after Trump pulls out of multi-national nuclear deal
4/14: CBS Evening News
Massive and powerful storm system rumbles into the east; More Americans will hit the road this summer if gas prices stay low
President Biden spends Thanksgiving in Nantucket
President Biden is spending Thanksgiving with his family in Nantucket, Massachusetts, a tradition dating back to the president's time as a Senator. CBS News White House reporter Bo Erickson speaks with CBS News' Christina Ruffini about how Mr. Biden is spending his Thanksgiving and how he plans to tackle the nation's issues when he returns to Washington.
Why tapping oil reserves may not do much to curb gas prices
White House plan aims to offer relief to millions of motorists. But the gains are likely to be modest, according to experts.
Biden announces oil release
President Joe Biden announced Tuesday the U.S. will release oil from the Strategic Petroleum Reserve in an effort to lower gas prices amid the Thanksgiving holiday weekend. Watch the president's remarks.
Biden releases oil reserves to battle gas prices
President Biden announced plans to release oil from the Strategic Petroleum Reserve in an effort to bring down high gas prices. Ed O'Keefe shares more.
Biden details plan to increase gas supply
President Biden spoke Tuesday about how his administration is tapping an emergency oil reserve to increase supply and help lower gas prices at the pump. He also spoke broadly about the state of the economy. CBS News congressional correspondent Kris Van Cleave joins CBSN's Tanya Rivero to discuss.
People under Hurricane Erin evacuation orders warned to "take action now"
Meteorologists are closely tracking the projected path and forecast of Hurricane Erin, which is the first hurricane to develop over the Atlantic this year.
Judge declines to unseal grand jury material in Jeffrey Epstein case
A federal judge in New York on Wednesday declined the federal government's request to unseal grand jury material in the Jeffrey Epstein case.
U.S. to probe "anti-American" views of those applying for immigration benefits
The Trump administration has directed officials to probe any "anti-American" views and activities of immigrants applying for immigration benefits like green cards and work permits.
Texas House poised to advance controversial Republican redistricting plan
House Bill 4, the redistricting legislation, is the only item on the lawmakers' agenda when they reconvene on Wednesday.
Popular musician who glorified drug cartels shot dead in parking lot
Ernesto Barajas was gunned down in the city of Zapopan, police said. Another man died in the attack and a woman was injured.
California resident in Lake Tahoe area tests positive for plague
Public health officials said the person may have been bitten by an infected flea while camping in the South Lake Tahoe area.
Unidentified flying object crashes and explodes in Poland
Local police said they received reports of the crash around 2 a.m. and found burned metal and plastic debris at the scene.
Judge blocks Texas law requiring Ten Commandments displayed in classrooms
A federal judge temporarily blocked a Texas law requiring public schools to display the Ten Commandments, ruling it likely violates the First Amendment.
DNA testing confirms Travis Decker is sole suspect in murders of daughters
Travis Decker is accused of killing his three young daughters, whose bodies were found near a campground in central Washington.