Hon Tony Abbott in conversation with Brian Lee Crowley / MLI
Hon Tony Abbott in conversation with Brian Lee Crowley / MLI
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Gas prices hit a significant milestone [Video]

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Oil and Gas Industry News

Gas price inflation is back.For the first time since late last year, prices at the pump are now higher on a year-over-year basis. It’s a trend that industry experts expect to continue in the coming weeks and months, especially if Russian oil facilities continue to get hit by drone attacks.This is an unwanted development for consumers heading into the spring. It’s also a problem for White House and Federal Reserve officials hoping to declare victory over inflation.The recent jump in gas prices is already causing headaches on the inflation front. Gas was the main culprit behind last week’s hotter-than-expected consumer price index and a disappointing wholesale inflation report.Related video above: As gas prices climb, experts weigh in on the factors behind the surge and what consumers can expect in the coming months.All of this is casting doubt on when the Fed will be able to start cutting interest rates. Hopes …

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