NEW YORK (AP) —Forecasters say ample oil supplies and weak U.S. demand will keep a lid on prices. The lows will be lower and the highs won't be so high compared with a year ago. The average price of a gallon of gasoline will fall 5 percent to $3.44, according to the Energy Department.
Gas prices will soon drop to their lowest level of the year.
By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.
A new report from the Congressional Budget Office said a carbon tax could bring in significant revenues and help reverse climate change at the cost of higher prices and lower incomes, The Hill reports.
The House Appropriations Committee proposed giving $24.3 billion to the subcommittee that finances the Interior Department, EPA and similar agencies, an 18-percent cut from fiscal 2013 levels, E&E News reports.
Senate Energy and Natural Resources Chairman Ron Wyden, D-Ore., and Ranking Member Lisa Murkowski, R-Alaska, called on the Forest Service to drop its plans to withhold funds from rural timber communities.