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The Latest Breaking News from Gas Prices

Newsom wants the feds to investigate California's high natural gas prices

Gov. Gavin Newsom on Monday jumped into the debate over the spike in natural gas prices affecting millions of California utility customers, calling on federal regulators to look at whether gouging or market manipulation is at work.

Tribune News Service

Energy bills to rise by 20% from April despite wholesale gas prices tumbling by 70%

Struggling households will see average bills rise from £2,500 to £3,000 a year in the spring after the Tories decided to cut subsidy levels under the Energy Price Guarantee

Daily Mirror

Pain at the pump: Gas in Nevada least affordable in US

LAS VEGAS — Gas prices have been a hot topic over the past year with the volatile crude oil market largely tied to the ongoing Russian invasion of Ukraine and inflation.

Tribune News Service

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Editorial: Big Oil reaps record profits while the planet burns. California should curb its greed

Chevron, Shell, Exxon Mobil and other oil companies made more money than ever in 2022, showing just how massive a windfall they reaped as surging gas prices made it a struggle for drivers to afford filling up.

Los Angeles Times

Auto review: Honda HR-V continues the commuter tradition

In 2023, with gas prices elevated and interest rates still rising, the cost to drive continues to go up and up. It's a good thing, then, that Honda's mindset has not changed. It continues to produce affordable vehicles that last a long time and meet or exceed commuters' expectations, all…

Boston Herald

Energy relief plan won't be 'one size fits all': PM

Prime Minister Anthony Albanese says energy relief isn't a "one size fits all" plan, as the nation braces for skyrocketing electricity and gas prices.

AAP

Shell profit doubles to record $56 billion in 2022 as war drives up energy costs

Global energy giant Shell has said that its annual profits doubled to a record high last year as oil and natural gas prices soared after Russia's invasion of Ukraine.

ABC News

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Shell under the spotlight in the City after record-breaking profit

Questions on future strategy follow huge capital return plan powered by high gas prices amid calls for windfall tax hikes

Evening Standard

Shell profit doubles to record as war drives up energy costs

Global energy giant Shell says annual profits doubled to a record high last year as oil and gas prices soared after Russia’s invasion of Ukraine

The Independent UK

Calls for bigger windfall tax after Shell makes ‘obscene’ $40bn profit

Calls for larger windfall tax after surge in gas prices fuels ‘outrageous’ doubling of profits at Anglo-Dutch group

The Guardian - UK

Watch: Gas bill hike, NT alcohol restrictions, George Pell protests

Watch: Controversial Cardinal Pell lies in state at St Mary's Cathedral. AGL and Origin raising gas prices. A report on the impact of alcohol restrictions

The New Daily

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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Bangkok Post

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.

Los Angeles Times

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.

StockNews.com

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…

Reuters

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.

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The Independent UK

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 Guardian - 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

Dublin Live

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

The Guardian - UK

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

Asharq Al-Awsat

‘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…

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