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Average US gas price hits $5 for first time

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Average US gas price hits  for first time
The report is hardly a shock. Fuel costs have been rising steadily for the final eight weeks, and this newest milestone marks the fifteenth straight day that the AAA studying has hit a report value, and the thirty second time within the final 33 days.

The nationwide common stood at $4.07 when the present run of value will increase started April 15. The present value studying from OPIS represents 23% enhance in lower than two months.

And the rising gasoline costs is doing extra than simply inflicting ache on the pump for drivers. They’re a significant factor within the tempo of costs paid by shoppers for a full vary of products and companies rising on the quickest tempo in 40 years, in keeping with the federal government’s inflation report Friday.

Whereas a $5 nationwide common is new, $5 fuel has develop into unpleasantly frequent in a lot of the nation.

Information from OPIS, which collects the readings from 130,000 US fuel stations used to compile the AAA averages, confirmed that 32% of stations nationwide, almost one in all each three, had been already had been charging greater than $5 a gallon in readings Friday. And about 10% of stations throughout the nation are charging greater than $5.75 a gallon.

The statewide common was $5 a gallon or extra in 21 states plus Washington DC in Saturday’s studying.

$6 fuel could possibly be subsequent

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And fuel costs are unlikely to cease there. With the summer time journey season getting underway, demand for gasoline, coupled with Russian oil shipments lower off as a result of struggle in Ukraine, oil costs are hovering on world markets.

The US nationwide common for gasoline could possibly be near $6 later this summer time, in keeping with Tom Kloza, world head of vitality evaluation for the OPIS.

“Something goes from June 20 to Labor Day,” Kloza stated earlier this week concerning the demand for fuel as individuals hit the highway for long-anticipated getaways. “Come hell or excessive fuel costs, individuals are going to take holidays.”

The best statewide common has lengthy been in California, the place the common stood at $6.43 a gallon in Saturday’s readings. However the ache of upper costs is being felt throughout the nation, not simply in California or different high-priced states.

Low-cost fuel exhausting to seek out

That is partly as a result of the most affordable value wasn’t all that low-cost — the $4.47 a gallon common value in Georgia offers it the most affordable statewide common. Lower than 300 fuel stations out of 130,000 nationwide had been charging $4.25 a gallon or much less in Friday’s studying from OPIS. For functions of comparability, earlier than the run-up in costs earlier this 12 months, the report nationwide common for fuel had been $4.11, set in July 2008.

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And even in some states with cheaper fuel costs, resembling Mississippi, decrease common wages imply that drivers there should work extra hours to earn the cash wanted to fill their tank than drivers in a number of the larger priced fuel states, resembling Washington.

There are some early indicators that individuals are beginning to in the reduction of on their driving within the face of the upper costs, however it’s nonetheless a modest decline.

The variety of gallons pumped at stations within the final week of Might was down about 5% from the identical week a 12 months in the past, in keeping with OPIS, despite the fact that fuel costs have risen greater than 50% since then. The variety of US journeys by automobile has slipped about 5% since early Might, in keeping with mobility analysis agency Inrix, though these journeys are nonetheless up about 5% because the begin of the 12 months.

The chief concern is that buyers will in the reduction of on different spending to maintain driving which might push an financial system already displaying indicators of weak point into recession.

Quite a few causes for report costs

Past the sturdy demand for gasoline, there may be additionally a provide drawback that is driving up the worth of each oil and gasoline. Russia’s invasion of Ukraine, the sanctions on Russia imposed in america and Europe since then is a significant component, since Russia was among the many world’s main oil exporters. However it’s only a part of the trigger.

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Oil is a commodity traded on world markets. The US has by no means imported vital quantities of oil from Russia, however Europe has historically been depending on Russian exports. The EU’s latest resolution to ban oil tanker shipments from Russia despatched oil costs hovering globally.
The worth of a barrel of crude closed above $120 a barrel Friday, up from simply lower than $100 a month in the past. Goldman Sachs not too long ago predicted the common value for a barrel of Brent crude, the benchmark used for oil traded in Europe, will probably be $140 a barrel between July and September, up from its prior name of $125 a barrel.
Different elements past Russia’s withdrawal from the worldwide market are limiting provide. OPEC and its allies have sharply in the reduction of oil manufacturing as demand for oil crashed within the early months of the pandemic, as a lot of the world’s companies shut down and other people stayed near dwelling. World oil futures briefly traded in adverse territory because of lack of house to retailer the glut of oil. Some oil producing nations slashed manufacturing in an effort to help costs, and a few of that manufacturing is again on-line however not all of it.

US oil manufacturing and refining capability additionally haven’t totally recovered to the pre-pandemic ranges. And since costs are even larger in Europe, some US and Canadian refineries that will usually provide the US market with fuel are exporting gasoline to Europe.

Many oil firms have been gradual to extend manufacturing, regardless of the excessive value that the oil might fetch, as a substitute utilizing these hovering income to purchase again their very own inventory in an effort to boost their share value. ExxonMobi (XOM)has introduced it intends to repurchase $30 billion of its inventory, greater than its whole capital spending price range for the 12 months.

— CNN’s Matt Egan and Michelle Watson contributed to this report.

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Trump keeps decrying rampant crime. Here’s how his misleading claim has shifted.

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Trump keeps decrying rampant crime. Here’s how his misleading claim has shifted.

By former President Donald J. Trump’s account, the country is awash in crime. But in fact, under President Biden, the rate of violent crime has fallen.

It is a refrain that dates to Mr. Trump’s first presidential campaign in 2016, when he often cited false statistics to claim historically high murder rates and record-breaking urban crime. After he was elected, those warnings waned, even though the country had its biggest one-year increase in murder in 2020, when he was in office.

Once he lost that election, though, Mr. Trump wasted no time in falsely claiming crime records, saying in a 2022 address that “our country is now a cesspool of crime.”

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In making the case for a second term, Mr. Trump has stuck to that message, though his argument has evolved this election cycle from false claims on crime rates to an attack on the credibility of any evidence that refutes him. Here’s how.

March 2, 2024

Mr. Trump selectively homes in on crime in cities, including at a rally in Greensboro, N.C.

Mr. Trump had a point that violent crime in Washington had increased in 2023. But it was one of few outliers. Violent crime overall decreased across the country by 3 percent, and the number of homicides declined on average by 10 percent across 32 cities tracked by the nonpartisan Council on Criminal Justice. In Washington and seven other cities, though, the number of homicides increased.

April 13, 2024

Mr. Trump, at a rally in Pennsylvania, falsely balloons the level of crime in New York.

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Crime, in fact, decreased in the year before March 2024 by 5 percent, and murders by 19.4 percent, the city reported just days before Mr. Trump’s remarks. And in 2023, overall crime declined by 0.3 percent and murders by 11.9 percent, to 386 in 2023 from 438 in 2022.

Those numbers also pale in comparison to the height of crime in New York in the 1980s and 1990s, when Mr. Trump was a mainstay of the city and when it regularly recorded more than 1,500 murders annually. Homicides peaked in 1990 at 2,245.

May 18, 2024

As the general election nears, his claims grow more hyperbolic.

“There’s too much crime in the country. We’ve never seen crime like this before.”

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Mr. Trump, in an interview with a Dallas news station, warns more broadly of a nationwide crime wave. That is false. Violent crime and property crime are near the lowest level in decades, despite public perception to the contrary. And while there was an increase in crime during the pandemic, violent crime was higher in 2020 under Mr. Trump than under Mr. Biden so far.

May 18, 2024

That same day, he attributes the increase to Democratic policies.

Speaking to the National Rifle Association, Mr. Trump vividly and baselessly casts blame on his political opponents.

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June 15, 2024

Mr. Trump wrongly blames methodological changes for obscuring crime trends.

The claim, made at a conservative gathering in Detroit, is misleading. Days earlier, the F.B.I. released a preliminary assessment estimating that crime had fallen in the first three months of 2024. But Mr. Trump insisted the data was fraudulent.

In 2021, the F.B.I. started relying on a new data collection system, aggregating crime data from local and state police departments. Many agencies had yet to fully transition, resulting in reporting from only 68 percent of agencies, which covered about 66 percent of the population. So Mr. Trump has a point that data collection in 2021 was unusually incomplete, but the reported national crime rate that year did not simply omit a third of the country, as he said. Rather, the F.B.I. used a standard statistical process to fill in the blanks and estimate crime for the missing jurisdictions to generate a national rate.

The F.B.I.’s national estimates included data from more agencies in subsequent years: 93.5 percent of the population in 2022 and 94.3 percent in 2023. Both years continued to show a decline in crime compared with 2020.

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June 22, 2024

At a rally in Philadelphia, Mr. Trump insists that the official statistics are “fake.”

“The F.B.I. crime statistics Biden is pushing are fake.”

Minutes later, he points to a different data set, also from the Justice Department.

Mr. Trump was cherry-picking those statistics and referring to the Bureau of Justice Statistics’ National Crime Victimization Survey, which showed a 43 percent increase in the violent crime rate, from 16.4 per 1,000 people in 2020 to 23.5 in 2022. (Unlike the F.B.I.’s crime rate, which relies on crimes reported to the police, this rate relies on responses to a survey.)

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Left unsaid: The 2022 rate was comparable to rates under the Trump administration (23.2 in 2018 and 21.0 in 2019) and still lower than rates in the 1990s and 2000s. Moreover, in 2023, that rate declined to 22.5 per 1,000 people.

Aug. 3, 2024

He repeats those percentages during a rally in Atlanta.

“Nationwide, there’s been a 43 percent increase in violent crimes since I left office, including a 58 percent increase in rape, 89 percent increase in aggravated assault and a 56 percent increase in stone-cold robbery.”

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Sept. 6, 2024

Addressing the Fraternal Order of Police union in Charlotte, N.C., he again cites those figures.

“Since Kamala Harris took office, she has presided over a 43 percent increase in violent crime, including a 58 percent increase in rape and an 89 percent increase in aggravated assault.”

Sept. 10, 2024

Mr. Trump reprises his claims during the presidential debate.

Sept. 18, 2024

In a Fox News interview, Mr. Trump inaccurately cites an analysis to claim a huge increase in crime.

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“I was right. The following day, D.O.J. announced numbers — I don’t know who it was in D.O.J., but somebody over there likes me — that crime is up 45 percent, murders up, numbers like you wouldn’t even believe.”

Since the debate, Mr. Trump has seized upon and further inflated an analysis repeated in conservative news outlets of revised F.B.I. statistics.

In its September report estimating that violent crime had declined by 3 percent in 2023, the F.B.I. released revised figures for 2022, as it does every year. The revisions, according to an analysis published by Fox News, show a 4.5 percent increase in violent crime from 2021 to 2022.

But even that 4.5 percent figure is misleading, as FactCheck.org has noted. That is because crime data from 2021 was incomplete, as police departments across the country transitioned to a different reporting system. Moreover, the revised data still show that violent crime had declined overall since 2020.

This dark assessment of soaring violence and lawlessness under Mr. Biden and Ms. Harris has been central to Mr. Trump’s re-election campaign — even though the facts show otherwise.

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Ukraine says it has attacked North Korean troops in Kursk

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Ukraine says it has attacked North Korean troops in Kursk

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Ukrainian officials said on Monday that their forces had fired at North Korean soldiers in combat for the first time since their deployment by Russia to its western Kursk region.

The clashes mark the first direct intervention by a foreign army since Russia’s full-scale invasion of Ukraine began in 2022, as well as an expansion of what was already the largest land war in Europe since the second world war.

“The first military units of the DPRK [Democratic People’s Republic of Korea] have already come under fire in Kursk,” Andriy Kovalenko, Ukraine’s top counter-disinformation official within the national security council, said on Telegram. A senior Ukrainian intelligence official confirmed the military engagement to the Financial Times but declined to provide further details.

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In Kyiv, foreign minister Andrii Sybiha said he had discussed with his visiting German counterpart Annalena Baerbock the “need for decisive action” in response to North Korea’s deepening involvement in the war.

“We urge Europe to realise that the DPRK troops are now carrying [out] an aggressive war in Europe against a sovereign European state,” Sybiha said in a news conference.

The US on Monday called out Russia and China at the UN Security Council for “shamelessly protecting” and emboldening North Korea. South Korea and the EU also condemned the deployment and expressed concern that Russia could reward North Korea with transfers of nuclear and ballistic technology.

Another senior Ukrainian official told the FT that Moscow was already providing military technologies to Pyongyang to help with its missile programmes, as well as “money”.

In Moscow, Russian President Vladimir Putin met North Korea’s foreign minister, Choe Son-hui, in the Kremlin on Monday.

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Russian President Vladimir Putin, left, and North Korean foreign minister Choe Son-hui meet at the Kremlin on Monday © Mikhael Tereshchenko/SPUTNIK/KREMLIN POOL/EPA-EFE/Shutterstock

Choe passed on a greeting from North Korean leader Kim Jong Un, who has backed Russia’s invasion of Ukraine and signed a treaty with Putin in June that includes a mutual security assistance clause.

The foreign minister last week said that North Korea had “no doubt whatsoever that under the wise leadership of the honourable Russian President Vladimir Putin, the Russian army and people will surely achieve a great victory in their sacred struggle to defend the sovereign rights and security of their state”.

Putin has not confirmed the North Korean deployment but he hinted at it last month, indicating it fell under the security provisions in the treaty.

US and South Korean officials last week confirmed Ukraine’s assessment that around 8,000 North Korean troops were sent to Kursk last month to help Russia’s army push Ukrainian forces out of territory they have occupied since August. Senior Ukrainian intelligence officials told the FT that the forces were in barracks about 50km from the Ukrainian border and preparing to enter the fight within “days”.

Kyiv, Washington and Seoul said that Pyongyang had sent roughly 12,000 troops in all to Russia for its ongoing war effort, including 500 officers and three generals. The remaining forces are located in Russia’s far east, where they are undergoing training.

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The White House has said that the North Koreans would become “legitimate military targets” if they entered the fight against Ukraine.

Ukrainian President Volodymyr Zelenskyy said on Friday that Ukraine could see where Russia was gathering the North Koreans and urged western nations to lift restrictions on long-range weapons to “pre-emptively” strike them before they could attack his forces.

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The senior Ukrainian intelligence official declined to provide specifics about the first military engagement between his country’s forces and the North Koreans. But he said that it occurred within Russia’s Kursk region, where Ukraine controls some 600 sq km of territory, or a little more than half of what it previously held following the summer incursion that took Moscow by surprise.

Ukraine’s military intelligence directorate, the GUR, said over the weekend that Russia had armed the North Korean troops in Kursk with 60mm mortars, assault rifles, machine guns, sniper rifles, anti-tank guided missiles and shoulder-launched anti-tank rocket launchers. The GUR said that some were also provided with night-vision devices and thermal imagers. A few hundred troops from North Korea’s special forces have also been deployed in Kursk.

Ukrainian officials and military analysts have raised questions about the quality and combat effectiveness of the North Korean troops, with most being described as inexperienced, low-ranking soldiers.

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“We will know soon” how well they can fight, said one of the officials on Monday.

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Both Candidates Exude Confidence, Trump Says He Doesn’t Mind if Reporters Are Shot

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Both Candidates Exude Confidence, Trump Says He Doesn’t Mind if Reporters Are Shot
Former President Donald Trump and Vice President Kamala Harris are exuding confidence as they head into Election Day. For Trump, that’s nothing new. He said over the weekend that he “shouldn’t have left” the White House at the end of his presidency – despite losing the 2020 election to President Joe …
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