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The Latest Breaking News from Gas Prices

Anthony Albanese urges national cabinet to endorse unprecedented intervention to cap coal and gas prices

As the year's end draws near, the prime minister convenes national cabinet, asking it to impose a price cap on coal and gas, fearing worse price spikes in 2023.

ABC News

California lawmakers to meet, eye big oil's high gas prices

California lawmakers are preparing to return to work for a special session on gas prices

The Independent UK

Exploitative gas pricing is causing debt and distress for many Australian households

It is not fair for people to be paying such wildly varied prices for the same level of gas consumption – equity must be central to any market intervention

The Guardian - AU

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High gas prices prompt California lawmakers to consider penalties on oil profits

SACRAMENTO, Calif. — A new class of California lawmakers will be sworn in Monday and thrust into the middle of Gov. Gavin Newsom's political fight with oil companies, testing the clout of an industry that spends heavily to influence the Legislature and potentially affecting gas prices for Californians.

Los Angeles Times

An early Christmas gift: lower gas prices

The average price in the city for regular unleaded was $4.23 as of Friday, according to AAA Gas Prices

Chicago Sun-Times

Government to cap wholesale gas prices as part of market intervention to lower power prices

Anthony Albanese and his cabinet are set to endorse a multi-pronged strategy to curb sky-high power prices, as pressure mounts on the government to urgently intervene in the market.

ABC News

Peruvian truckers, farmers block roads in protests over fuel, fertilizer

Peruvian farmers and truck drivers staged at least 14 roadblocks on Thursday as part of ongoing protests over high gas prices and fertilizer shortages, hitting the trade and tourism sectors in the South American nation.

Reuters

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European Union energy ministers fail to agree to cap gas prices

European Union ministers met in Brussels on Thursday to debate measures intended to ease the energy crisis but were unable to agree a gas price cap proposed by the bloc's governing commission.

Radio France Internationale

Rishi Sunak news – live: PM backs Raab amid new bullying allegations

Senior lawyer Adam Tolley KC was appointed by Rishi Sunak to look into formal complaints of bullying by Raab

The Independent UK

Can Valero Energy Help Energize Your Portfolio This Fall?

Although oil and gas prices have fallen significantly from their highs, crude oil prices are expected to rise further because of the potential supply crunch. This could benefit oil and gas major Valero Energy (VLO). Moreover, the stock is trading above its 50-day and 200-day moving averages, indicating an uptrend.…

StockNews.com

Gas prices falling ahead of Thanksgiving holiday. Here’s how much lower they could get

Easing the financial strain of higher turkey costs, gas prices are falling across the country as the Thanksgiving Day holiday approaches.

Tribune News Service

Oman’s Producer Price Index Posts Increase of 37%

Oman's producer price index for the third quarter of 2022 posted an increase of 36.6 percent, compared to the corresponding period in 2021, according to the quarterly survey by the National Center for Statistics and Information (NCSI). The Oman News Agency (ONA) reported on Sunday that oil and gas prices…

Asharq Al-Awsat

Frommer’s 15 best places to travel in 2023

Cue the wanderlust! Frommer’s travel editors have gone big with their annual Best Places to Go list, which includes destinations around the world. After two years of domestic travel recommendations — while grappling with understaffed airports, flight delays and high gas prices — they’re declaring themselves (cautiously) optimistic about this…

Tribune News Service

Is air travel getting more expensive?

Recent increases in flight costs reflect broad inflation and higher gas prices.

USAFacts

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Newcastle Herald

Orica chief says gas prices are not sustainable

The head of chemical manufacturer Orica says the current record gas prices are not sustainable.

The Conversation

Energy transitions: why countries respond differently to the same problem

Russia’s invasion of Ukraine upended global energy markets. Sanctions on Russian exports and the suspension of gas deliveries to several European countries sent oil and gas prices skywards.

The Independent UK

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

Kiplinger

Kiplinger Energy Outlook: Some Relief at the Pump in Time for July 4

Gas is still expensive, but fill-ups are getting less costly as oil prices retreat.

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Tribune News Service

Card balances continued to grow at moderate pace in September, Fed reports

Credit card debt grew moderately in September, as gas prices continued to decline. While inflation remained an issue impacting consumers, rising 8.2 percent over the year for September, gas prices were down 4.9 percent from August. This follows August’s month-over-month 10.6 percent downslide in gas prices.

The Independent UK

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

Birmingham Post

Poinsettia farmer overcomes energy crisis to grow a million plants for Christmas

Comes as Dutch growers cut back on production this year due to rising gas prices

The Guardian - UK

Stronger profits at British Gas owner fuel £250m share buyback

Higher electricity and gas prices offset weaker performance in Centrica’s household services

The New Daily

Treasury calls for action on sky-high prices, as blowback comes from gas companies

Gas exporters have signalled their intent to make sure any government regulation on gas prices is watered down.

Los Angeles Times

Commentary: We can’t afford to shutter California’s aging oil refineries yet

After a summer with some historic gasoline price increases, California continues to experience the highest gas prices in the country by a considerable margin.

ABC News

Federal Treasury secretary Stephen Kennedy recommends government intervene in energy market to drop power prices

The federal government's chief economic advisor endorses market intervention to cap or reduce coal and gas prices, warning unusually high company profits are coming at the expense of poorer Australians.

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