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The Latest Breaking News from Gas Prices

Inflation slows a bit in July. Has it finally peaked?

WASHINGTON — After months of steadily climbing to a 40-year high, the pace of inflation slowed notably in July as gas prices fell sharply and Americans got some relief on the cost of clothing, cars and other necessities.

Los Angeles Times

US inflation falls to 8.5% in July but still close to multi-decade high

Gas prices drop sharply after a hitting a national average of $5 a gallon in mid-June

The Guardian - US

Inflation is cooling thanks to gas prices, but many things still cost a lot more

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

WEKU

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3 Energy Stocks to Buy on the Dip

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 boost oil and gas prices significantly. Given the industry tailwinds, we think it…

StockNews.com

US inflation will likely stay high even as gas prices fall

Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months

The Independent UK

Southern California gas prices are falling fast. But how long can it last?

Southern California drivers are getting more relief at the gas pump, with the average cost of a gallon of regular gas in Los Angeles County slipping below $5.50.

Los Angeles Times

Inside Somalia’s vicious cycle of deforestation for charcoal

As gas prices rise Somalis are turning to the affordable energy source, driving unsustainable logging – as al-Shabaab condemns but profits from the trade

The Guardian - UK

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Gas prices are finally dropping. Here are 4 things to know

The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.

WEKU

Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say

‘If Russia were to completely cut supplies and we had a cold winter it would be a perfect storm’

The Independent UK

PNG prices up but CNG rates left intact to retain edge over frozen diesel, petrol prices

NEW DELHI: Indraprastha Gas Ltd on Friday raised PNG (piped natural gas) rates in the capital and neighbouring cities by Rs 2.63 per unit to partially pass on the impact of rising natural gas prices but left CNG (compressed natural gas) rates unchanged at Rs 75.61 per kg.

The Times of India

Indraprastha raises gas prices in Delhi-NCR for second time in 2 weeks

NEW DELHI: Gas distribution company Indraprastha Gas has raised prices for piped cooking gas by Rs 2.63 per unit to Rs 50.59, the second hike in less than two weeks.

The Times of India

New York nonprofits serving disabled adults struggling with food, fuel costs as inflation surges

NEW YORK — A nationwide surge in food and gas prices has hit particularly hard for some nonprofits serving vulnerable New Yorkers.

Tribune News Service

The Bank of England predicts a lengthy recession at the end of the year

Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, the bank said. That will push Britain into recession later this year, bank forecasts show.

WEKU

Missouri’s average gas price falls to $3.79

As of August 3, Missouri’s average gas price according to AAA was $3.79 for regular gas, which was below the national average of $4.16. Gas prices fell from the previous week’s average of $3.97 and were below the June average of $4.53. On August 3, 2021, the state’s average price…

Ballotpedia

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The Times of India

Adani Total Gas reports flat net profit for Q1

NEW DELHI: Adani Total Gas Ltd on Thursday reported a flat net profit for June quarter as higher gas prices ate into increased CNG and piped cooking gas sales volumes.

ABC News

No new gas connections for ACT homes and businesses from 2023 under plan to phase out fossil fuels

Rising gas prices are already convincing ACT households to switch to electricity, but the government says all newly built homes will not be able to be connected to gas from January 1.

The Independent UK

WH says falling gas prices matter more than OPEC numbers

President Joe Biden traveled to Saudi Arabia almost three weeks ago on the possibility that he could get some additional oil production out of OPEC+

Wales Online

Shell hands staff big bonuses after energy firm reports record profits

It comes as gas prices have risen significantly across Europe following Russia’s invasion of Ukraine

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The Independent UK

Inflation to hit ‘astronomical’ 15% next year as UK households face £3,600 energy bills

Bank of England expected to hike interest rates by 0.5% to tame out of control price rises fuelled by Russia’s war in Ukraine

The Independent UK

Why energy bills are increasing?

Squeeze on wholesale gas prices around the world driving up household bills

The Independent UK

BP earnings triple as energy firm profits from rising prices

BP’s earnings have tripled in the second quarter as the British energy giant profited from oil and natural gas prices that soared after Russia invaded Ukraine

Wales Online

BP's profits treble as households face record energy bills and high fuel prices

The company has cashed in on high oil and gas prices

Daily Mirror

BP profits hit £6.9BILLION in 14-year high as UK buckles under soaring energy bills

BP's financial performance has gone through the roof thanks to soaring oil and gas prices due to the war in Ukraine as they've already raked in £5billion in profits in the first three months of the year - which is more than double the £2.3bn earned in the same period…

Chicago Sun-Times

Gas prices, economy not the only issues in election this fall

Is cheap gas worth losing a functioning democracy?

The Guardian - AU

Australia’s high gas prices could be here to stay if threats don’t turn into action

The east coast faces a potential gas shortfall in 2023 amounting to 10% of demand and there are calls for exporters to fill the gap

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