Consumer News: The latest on where gas prices stand, Abbott restarts production of specialty formula and more
Consumer News with ABC Columbia is brought to you by Grow Financial.
COLUMBIA, SC (WOLO)– Drivers in the Midlands and across the country continue to take a beating at the gas pump. Today, GasBuddy reports the average price for regular in the Midlands is $4.42 per gallon. That’s 23 cents more than just a week ago. If you’re looking for a bargain, if you can call it that, the website reports the cheapest gas can be found at the Exxon on Shakespeare Road for $4.19 a gallon.
According to AAA, the national average jumped to $4.87. That’s a 25 cent hike over the last week and a 59 cent increase in just one month. There are now states with gas above $5 a gallon. Georgia is the only state with the average below $4.30 per gallon. Oil analysts expect the national average to hit over $5 in the next 10 days.
CNN– Some good news for parents whose children only drink special formula. Store shelves will be stacked with it by June 20. That’s according to Abbott, the company that makes formula. Abbott says its specialty formula production has restarted at its Michigan plant. That’s the plant that was closed by the Food and Drug Administration after they found bacteria that can be deadly to infants The company says it’s producing formula for babies who can’t tolerate other formulas right now, then will move on to regular formula.
CNN– This week, President Joe Biden and First Lady Jill Biden will be attending the Ninth Summit of the Americas in Los Angeles, an event that brings together government officials worldwide. Among the issues on the agenda is economic prosperity. That’s an issue that the White House is also placing high on its own to-do list. John Lorinc reports.