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Summer Travel Season

All articles tagged with #summer travel season

politicseconomy2 years ago•2 min saved

Biden Releases 1 Million Barrels from Northeast Reserve to Lower Gas Prices

President Biden has announced the release of one million barrels of gasoline from the Northeast Gasoline Supply Reserve to help lower gas prices ahead of the summer travel season and Memorial Day. Critics argue the impact will be minimal and accuse Biden of using the reserve for political gain. The reserve, created in 2014, has never been tapped before and is set to be sold off and closed following a congressional mandate.

via WKRC TV Cincinnati|

#biden-administration #gas-prices #gasoline-reserve

business3 years ago•1 min saved

Airlines Brace for Soaring Fuel Costs, Adjust Forecasts

Major U.S. airlines, including Southwest Airlines, have warned about a significant spike in jet-fuel prices, adding to costs during the busy summer travel season. Fuel and labor are the biggest expenses for airlines, and the increase in fuel costs raises concerns about how much of the additional expenses carriers have been able to pass on to customers. Southwest Airlines has narrowed its revenue outlook for the current quarter, expecting a 5% to 7% fall in unit revenue compared to last year. Other airlines, such as Alaska Airlines and United Airlines, also anticipate increased costs that could impact their results.

via CNBC|

#airlines #business #fuel-costs