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The Latest Breaking News from Gas Prices

IMF says global growth 'surprisingly resilient' in updated forecast

The International Monetary Fund's new projections for 2023 show GDP for the world economy growing by 3.2 percent, compared to a 1.9 percent expansion last year. The improved forecast is aided by China's scrapping of its zero-Covid policy and the fall in gas prices. Also on the programme, we report…

France 24

House GOP seeks new restrictions on use of US oil stockpile

For the second time this month, House Republicans are seeking to restrict presidential use of the nation’s emergency oil stockpile — a proposal that has already drawn a White House veto threat

The Independent UK

South Korea to double energy vouchers amid soaring bills, cold wave

South Korea plans to double energy vouchers and a discount of gas prices for underprivileged families to cope with spiralling heating bills amid a prolonged cold wave, officials said on Thursday.

Reuters

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SCG Ceramics to increase prices amid energy burden

SCG Ceramics Plc, a subsidiary of SCG Cement-Building Materials Co, plans to increase its product prices again this year after months of rising electricity and gas prices.

Bangkok Post

Editorial: Soaring utility bill? Blame the instability of fossil fuels

Californians are being hit with big increases in their utility bills this winter as natural gas prices spike dramatically, and it’s exceptionally bad timing.

Los Angeles Times

3 Energy Stocks That Are Screaming Buys Right Now

Despite the recent retreat in oil and gas prices from their peaks, analysts expect energy prices to rise, driven by substantial demand and restricted supply. A surge in demand due to the reopening of China’s economy could significantly boost oil and gas prices. Given the industry tailwinds, we think it…

StockNews.com

German economy minister: recession threatening Europe manageable

Germany's economy minister said that easing gas prices give hope that a recession threatening Europe, and Germany, can be managed and even reduced, and underscored the need to establish more critical infrastructure to create a more resilient economy.

Reuters

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Higher energy bills are here to stay, oil company boss warns

Annual bill for British homes is currently around £2,500 on average

The Independent UK

Signs that the UK economy could be recovering better than expected

Experts forecast falling energy costs and a halving of inflation lie ahead but warned some will still struggle

The Independent UK

Hopes of sharp fall in household energy bills as HSBC cuts gas price forecast

Bank slashes predicted 2023 European wholesale price by 30% as mild weather reduces demand

The Guardian - UK

When will the cost of electricity and gas bills fall? Expert explains as wholesale prices drop

Part of the reason is how our energy is bought by suppliers

Dublin Live

UK energy bills forecast to fall below £2,500 as gas prices tumble

Expected dip in July will ease pressure on households struggling to cope with soaring living costs

The Guardian - UK

British Gas owner forecasts eightfold rise in earnings amid soaring gas prices

Ukraine war’s effect on wholesale gas prices prompts third upgrade in a year from Centrica

The Guardian - UK

‘Feels Like Summer’: Warm Winter Breaks Temperature Records in Europe

Record-high winter temperatures swept across parts of Europe over the new year, bringing calls from activists for faster action against climate change while offering short-term respite to governments struggling with high gas prices. Hundreds of sites have seen temperature records smashed in the past days, from Switzerland to Poland to…

Asharq Al-Awsat

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Reuters

'Feels like summer': Warm winter breaks temperature records in Europe

The Conversation

Global economy 2023: how governments could make the energy crisis worse this year

This is the second instalment in our series on where the global economy is heading in 2023, which started with this article on global inflation.

The Guardian - UK

Cost to Treasury of subsidising home energy bills falls by £5bn, experts say

Drop in wholesale gas prices means the cost to the government of the energy price guarantee will be reduced

Daily Mirror

Why UK bills are unlikely to drop for ‘years’ despite huge wholesale price fall

The gas market can be complicated so we’ve broken down some of the key details explaining why your bills are unlikely to fall even though the price of gas has dropped to levels not seen since before Russia's invasion of Ukraine

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Wales Online

Wholesale UK gas prices now lower than at start of Ukraine war

Natural gas futures have fallen below 170p over the past few days, whereas it cost over 500p following Putin's invasion of Ukraine, and over 650p in August

Wales Online

Power blackouts now unlikely after wholesale gas prices fall across Europe

Next fortnight is forecast to remain mild, which has helped shore up optimism over gas supplies

Evening Standard

Gas prices back under levels seen before Russia’s invasion of Ukraine

As the government’s energy price guarantee goes up, there is hope for bill payers as wholesale gas prices fall

AAP

Gas cap won't impact investment: Albanese

A 12-month cap on the price of gas has begun as part of the federal government's energy relief measures agreed by state and territory leaders.

Reuters

Venice glassblowers get lifeline to cope with high gas prices

Venice glassblowers struggling with soaring energy prices are set to get government support for the "jewel" of Italy's manufacturing sector, known world over for the colours and sophistication of its art.

Evening Standard

High gas prices won’t be a one-winter problem, warns energy market expert

Cornwall Insight says the market may not get back to pre 2021 levels for the rest of the decade

Radio France Internationale

EU agrees to cap gas prices, angering Russia

After months of negotiations, European Union energy ministers have agreed to a price cap for natural gas at 180 euros per megawatt hour. The issue has split the bloc, and the agreement drew an immediate warning from Russia, which has cut off most of its gas deliveries to Europe.

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