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WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.

WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

The Biden administration announced it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric vehicles and the transition to renewable energy, a move intended to improve U.S. competitiveness in a market dominated by China.

Executives from major oil companies will participate in a House Energy and Commerce Committee hearing next week on skyrocketing gasoline prices, but another House panel didn't have as much success getting witnesses to agree to appear.

A Connecticut effort to curb carbon-spewing emissions from large trucks by adopting California’s clean air regulations moved forward March 28, despite heavy criticism from opponents who said it could lead to higher costs on Connecticut businesses.

Prime Minister Justin Trudeau’s government wants a 42% reduction in emissions from the oil and gas sector as part of Canada’s plan to meet its 2030 emissions reduction goal.

The national average price for diesel resumed its upward trajectory after a one-week respite, gaining 5.1 cents to settle at $5.185 a gallon, according to Energy Information Administration data released March 28.

The U.S. is considering another release of oil from its emergency reserves as prices continue to surge after Russia’s invasion of Ukraine, people familiar with the matter said March 25.

The U.S. Postal Service announced March 24 it ordered more than 10,000 new electric delivery trucks, up from the 5,000 the agency had initially planned to purchase.

New York, New Jersey, Massachusetts and Connecticut agreed to work with about 40 clean power companies, utilities and universities to create plans for a regional hydrogen hub as part of a push to curb greenhouse gas emissions.