BUSINESS DIGEST || Gas prices to drop?


Gas prices to drop?

YOUNGSTOWN

Although gas prices have been on the rise recently, GasBuddy predicted prices would begin to drop due to the possibility of the Organization of the Petroleum Exporting Countries raising crude oil production.

Last week, GasBuddy reported the national average gasoline price had risen two cents per gallon to $2.97, according to a weekly survey of 135,000 gas stations.

“As the summer driving season gets underway, there’s reason to be optimistic and perhaps happy: OPEC appears ready to raise crude oil production to meet higher global demand, dashing at least for now, the likelihood of seeing the national average hit that ugly $3/gallon mark,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “For now, the national average peaked just under that level and prices are now starting to move ever-so-slowly lower, but more drops are coming.”

NRF against tariffs

WASHINGTON, D.C.

The National Retail Federation released a statement last week expressing opposition to the Trump administration’s proposal to implement tariffs on Chinese imports.

“We’re disappointed the administration has announced plans to move ahead with tariffs, which will lead to higher costs for consumers, fewer jobs and retaliation,” the statement said. “China’s trade practices raise serious concerns, but job-killing tariffs aren’t the answer. As the U.S. and China prepare for another round of negotiations, we hope the administration has clearly defined objectives and concrete solutions to resolve this trade dispute without tariffs. The lack of clarity surrounding the administration’s plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we’ve seen over the past year.”

Ribbon-cutting event

NEW CASTLE, PA.

A ribbon-cutting is scheduled for 4 p.m. Wednesday for a Janney Montgomery Scott location at 101 Nesbit Road, #100.

Janney Montgomery Scott is a Philadelphia-based full-service financial services firm.

Elite Leads Group

YOUNGSTOWN

The Youngstown/Warren Regional Chamber will host an Elite Leads Group event from 8 to 9:30 a.m. June 12 at the Home 2 Suites by Hilton, 5580 Interstate Blvd.

The event is a chance to get to know fellow business owners and connect with other Mahoning Valley professionals.

To register, follow the link on the event listing posted at regionalchamber.com/events.

Power Lunch event

CANFIELD

The Youngstown/Warren Regional Chamber will host a Power Lunch event from 11:30 a.m. to 1 p.m. June 12 at Kennsington Grille, 4171 Westford Place.

The chamber schedules power breakfasts, lunches and after-hours events each month to bring chamber members together for networking opportunities.

Advance registration is required by June 8. For more information, visit regionalchamber.com.

Staff reports

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