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The Latest Breaking News from Gas Prices

Biden taps oil reserve in attempt to curb gas prices

It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.

Axios

Biden to announce release of oil in bid to curb gas prices

It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.

Axios

Did releasing oil from the Strategic Petroleum Reserve impact gas prices?

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EU proposes to cap ‘excessive and volatile’ gas prices this winter

Policymakers attempt to insulate households from worst of impact from Russia’s invasion of Ukraine

The Guardian - UK

EU proposes energy measures, avoids immediate gas price cap

The European Commission proposed another set of emergency measures on Tuesday to tackle high energy prices, but steered clear of an immediate cap on gas prices as EU countries remain split over the idea.

Reuters

How to keep your heating bills down at home this winter as gas prices rise

The average annual energy bill for UK households now sits at £2,500

The Independent UK

Grattan on Friday: Government must find a way to force gas prices down – but how?

Senior ministers this week have dramatically raised the stakes in the Albanese government’s face-off with gas producers, amid escalating energy prices and dire warnings of worse to come. The question now is: how does the government follow through with effective action to match the rhetoric?

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America’s love for cars continues – will gas prices decide the midterms?

Economy in focus: The US loves its cars – but soaring prices are a big issue. In the midwest, Adam Gabbatt asks voters what they think

The Guardian - US

Australia LNG in demand as war stokes gas

Global gas prices are tipped to surge by more than 50 per cent as Europe weans itself off Russian gas, with Australian producers in line to ship more LNG.

AAP

How to keep your heating bills down at home this winter as gas prices rise

The average annual energy bill for UK households now sits at £2,500

The Independent UK

MBS accused of "election interference"

Saudi Arabia is slashing oil production before midterms in what some are calling a "hostile act" against Democrats

Salon

Gas price cap deal eludes EU countries, for now

The European Union will unveil proposals next week to launch joint gas buying within months and develop an alternative gas price benchmark, but a meeting of EU countries on Wednesday left it unresolved whether the package would include a gas price cap.

Reuters

AWU pans federal Labor over 'dud handshake deal' with gas producers as it warns of jobs catastrophe

A major union takes aim at the federal government over its gas policy, accusing Labor of risking jobs through a "dud handshake agreement" with exporters.

ABC News

Chalmers flags gas action, with escalating power prices a cost-of-living nightmare for government

High and rising power prices will become a bigger part of Australia’s inflation problem over time, Treasurer Jim Chalmers has warned, as he foreshadowed more government action to combat high gas prices.

The Conversation

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Tribune News Service

Rapid rise in gas prices wipes out most tax holiday savings in Florida

Well, that didn’t last long.

Reuters

In a land of spas, Hungary's cave bath falls victim to soaring gas prices

Staff turned off the lights and started draining the pools at Hungary's famous Miskolctapolca cave baths on Monday, after the centuries-old attraction succumbed to a modern-day crisis - soaring gas prices.

AAP

More pressure for gas prices to drop

Resources Minister Madeleine King says the government will look for further levers to pull to ease gas costs if negotiated supply doesn't see a drop in prices.

WEKU

California looks to target oil company profits in a special legislative session

Gas prices have recovered somewhat nationwide, but they have continued to spike in California, hitting an average of $6.39 per gallon on Friday.

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The Hindu

CNG, piped cooking gas prices hiked by ₹3

The ₹3 per kg increase in CNG price is the first hike in rates in over four months

Los Angeles Times

Newsom calls special legislative session to consider tax on excess oil company profits

SACRAMENTO, Calif. — Gov. Gavin Newsom on Friday announced he is calling a special legislative session in December for lawmakers to consider passing a tax on excessive profits oil companies are making because of the spike in California gas prices.

The Independent UK

Newsom to call special legislative session over gas prices

California Gov. Gavin Newsom will call a special session of the state Legislature to pass a new tax on oil companies

The Independent UK

GOP nominee sparks confusion by blaming Biden for children drinking water instead of juice

Inflation and gas prices tied to bigger global issues, experts say

Asharq Al-Awsat

EU Leaders Reaffirm Support for Ukraine, Squabble over Gas Cap

European Union leaders on Friday agreed to give more financial and military aid to Ukraine, but a full day of talks in Prague's ornate royal castle seemed to bring them no closer to deciding on whether or how to cap gas prices. Most of the EU's 27 countries want a…

Los Angeles Times

George Skelton: Newsom wants to tax oil companies for soaring gas prices. It'll be a bumpy road for motorists no matter what

SACRAMENTO, Calif. — When gas prices rise, it instantly fuels political rhetoric about price gouging and the need to help motorists pay at the pump. It's as automatic as pushing the starter button and hearing the engine crank up.

Reuters

EU leaders reaffirm support for Ukraine, squabble over gas price cap

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