Business briefs
Gas prices still slipping
Pump prices in the Pittsburgh region dropped another 3 cents a gallon in the last week to $2.54 on Monday, according to GasBuddy’s survey of more than 700 stations in southwestern Pennsylvania. Regional gasoline prices, which usually reach an annual peak in June, fell 12 cents a gaIlon during the month. Pump prices have now recorded a decrease for 10 consecutive weeks. Meanwhile, the average price nationally stayed flat at $2.25 a gallon, GasBuddy reported. In June, U.S. prices hit the lowest average for that time of year since 2005, according to the price-tracking website’s data.
Tesla CEO announces delivery
Tesla will begin delivering some of its mass-market Model 3 electric-powered sedans this month. In a series of late-night tweets Sunday, Tesla chief executive Elon Musk announced a “handover party” on July 28, at which 30 customers will receive Model 3s. August production “should be” 150 cars, he said, and he projected more than 1,500 of the vehicles will be made in September. Mr. Musk had committed to reaching production levels of 5,000 Model 3s a week by the end of the year. He tweeted: “Looks like we can reach 20,000 Model 3 cars per month in Dec.” The Model 3’s base price, before options, is expected to be around $35,000, with a range of 215 miles.
Walmart upgrades beef
Walmart has upgraded its beef to certified Angus across the U.S. as the fight for food shoppers’ cash intensifies.
For the past year, the nation’s biggest grocer worked with meat giants including Tyson Foods Inc. and Cargill Inc. to secure a supply of Angus steaks and roasts at no extra cost to customers.