Lower average gas price in the United States; Walmart and Kohl’s settle on ‘eco-friendly’ rayon products
The average U.S. price for a gallon of regular gasoline has fallen 10 cents over the past two weeks to $4.27 a gallon as oil prices continue to “yo-yo,” the analyst said on Sunday. of the Trilby Lundberg area.
The price at the pump was $1.32 higher than it was a year ago, according to the Lundberg survey conducted on Friday.
Nationally, the highest average price for regular gas was in Los Angeles at $5.85 per gallon. The lowest average was in Tulsa, Okla., at $3.52 per gallon.
According to the survey, the average diesel price was $5.13 a gallon, down 10 cents over two weeks.
Lundberg said prices had fallen dramatically over the past two weeks, in part because higher prices reduced demand in the second half of March.
However, the decline is not predictive of further declines as, among other things, global oil supply is tight due to an OPEC production cut last month, Lundberg said.
Walmart and Kohl’s settle on ‘eco-friendly’ rayon products
Walmart and Kohl’s are paying a combined $5.5 million in settlements after the Federal Trade Commission says they falsely marketed dozens of eco-friendly bamboo sheets and other home textile products, when they were actually rayon.
Kohl’s agreed to pay $2.5 million and Walmart will pay $3 million in the settlements, which stemmed from an FTC complaint that also included allegations of misleading environmental claims. Companies have touted “bamboo” textiles as being made in an environmentally friendly way, the commission said on Friday.
Rayon is a synthetic fiber made with plant cellulose, including bamboo, but the FTC noted that the process “requires the use of toxic chemicals and results in dangerous pollutants.”