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The Latest Breaking News from Gas Prices

Biden not at fault for nation’s high gas prices, Pete Buttigieg says

Don’t blame the White House for pain at the pump, Transportation Secretary Pete Buttigieg said Sunday.

Tribune News Service

There's not much more any government could or should do, says Resources Minister on gas prices, while eyeing industry trigger

Madeleine King says she is assured the chief executives of Australia's biggest gas producers are doing "everything they can" to get more supply into the domestic market, but the gas trigger remains an option.

ABC News

No, you aren't automatically saving money by working from home

Working from home may automatically seem like a cheaper solution amid soaring gas prices. But there are a lot of hidden costs involved in remote work.

Fortune

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read the most diverse news in one place.

‘Out of control’ gas prices likely to filter down to Australian consumers, food processor says

Industry advocates push for eastern states to establish gas reserves as soaring energy costs put pressure on companies

The Guardian - AU

Explained: Why Australia’s gas prices are so high

Australia’s energy crunch has turned downright nasty this week as retailers begin to pass on huge spikes in gas and power prices.

The New Daily

Electricity Prices Are Rising And Now We’re Facing Gas Shortages So Gonna Go Live Under My Doona

Wholesale gas prices spiked this week and market operators have warned Australia is facing a gas shortage as we head into winter.

Pedestrian.tv

Australia's gas crisis is worse than you might think. Industries warn thousands could lose their jobs and consumers will pay more

Australian manufacturers facing massive increases in gas prices are warning they could be forced to close. Consumers will also pay more, adding to cost-of-living pressures.

ABC News

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'Outrageous': Gas prices reach new record high in California, US

WOODSIDE, California — Gas prices in the Bay Area and California broke records again Wednesday, with some stations hitting $7 a gallon for mid- and premium-grade, exacerbating concerns about inflation and the region’s exceptionally high cost of living.

Tribune News Service

US pump prices hit record as OPEC+ producers gather

The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to send to the world economy as U.S. gas prices hit another record high

The Independent UK

Demand at food banks is way up again. But inflation makes it harder to meet the need

High food and gas prices are squeezing working families, sending some to food pantries for the first time. But providers are struggling with high costs, fewer donations and supply chain woes.

WEKU

As gas prices soar, Joe Biden likely to visit Saudi Arabia

WASHINGTON: President Joe Biden is likely to visit Saudi Arabia later this month as part of an international trip for Nato and Group of Seven meetings, according to people familiar with the matter, with record high US gas prices weighing on his party's political prospects.

The Times of India

Australia faces a 'perfect storm' on gas supply, as minister warns problem will not be solved quickly

Surging gas prices and supply shortfalls have put Australia on the edge of a "serious and challenging situation" that will not be quickly solved, the new Energy Minister warns.

ABC News

Biden likely to visit Saudi Arabia as US gasoline prices spiral, sources say

WASHINGTON — President Joe Biden is likely to visit Saudi Arabia later this month as part of an international trip for NATO and Group of Seven meetings, according to people familiar with the matter, with record high U.S. gas prices weighing on his party’s political prospects.

Tribune News Service

As gas prices soar, Biden leans toward visiting Saudi Arabia

President Joe Biden is leaning towards making a visit to Saudi Arabia — a trip that would likely bring him face-to-face with the Saudi crown prince he once shunned as a killer

The Independent UK

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ABC News

Federal government's 'gas trigger' to keep supplies onshore may not be pulled just to put a lid on high prices

As gas prices rocket upwards, the federal government is fielding questions on whether it would use its "gas trigger" powers to force gas exporters to keep supplies onshore. But high prices alone may not be enough to pull the trigger.

The New Daily

Newly installed federal government faces a tough test on gas prices

Long suffering energy consumers who have seen power prices spike now face rising gas prices from July 1, as shortages cause wholesale prices to spike.

The Independent UK

Why energy bills are increasing

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

Newcastle Herald

'Rocketed away': no easy answers on power price spikes, treasurer warns

Treasurer Jim Chalmers says the spike in gas prices has multiple causes and no easy solutions.

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Axios

Axios midterms dashboard: What matters '22

All politics is local.

The Independent UK

Why energy bills are increasing

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

The Guardian - UK

Could a cartel of large energy consumers cut oil and gas prices?

Italy’s PM Mario Draghi suggests big consumers club together to limit how much is paid and raises idea of EU gas price cap

The Independent UK

Why energy bills are increasing

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

Benzinga

How Gas Prices Are Tracking As Memorial Day Weekend Kick-Starts

Retail gas prices are at a record high in anticipation of increased demand as the summer driving season gets underway. Pain At The Pump: Nationwide, the average price of regular gasoline was at $4.601 a gallon, according to data from the American Automobile Association (AAA). This is much higher than the…

Benzinga

Analysts Slash Price Target On American Eagle Outfitters Post Q1 Results

Analysts slashed the price target of American Eagle Outfitters Inc (NYSE:AEO) following the company's Q1 results. BMO Capital analyst Daniel Stroller lowered the price target to $15 (14% upside) from $23 and kept a Market Perform rating on the shares. Stoller noted that macro-economic problems like inflation and soaring gas prices had amplified the issues in…

Benzinga

Why Big Lots Shares Are Plunging Today

Big Lots Inc (NYSE:BIG) reported a first-quarter FY22 revenue decline of 15.4% year-over-year to $1.37 billion, missing the consensus of $1.46 billion. Comparable sales decreased 17% versus an 11.3% increase last year. Ecommerce accounted for 7% of total sales in the quarter. The gross margin for the quarter decreased 350 basis points Y/Y…

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