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The Latest Breaking News from Gas Prices

Why your electricity bill is so high — and why your heating bill might be next

Natural gas prices are soaring in the U.S. and around the world — and they're expected to keep climbing through the winter.

WEKU

EPA declares Denver, northern Front Range 'severe' violators of air quality standards as state fails to reduce smog

DENVER — The Environmental Protection Agency announced Friday that it reclassified Denver and Colorado’s northern Front Range as “severe” violators of air quality standards, meaning more stringent regulations are coming for businesses and consumers are likely to pay higher gas prices.

The Denver Post

France to cap electricity, gas price increases at 15 percent

France will cap increases in electricity and gas prices for households at 15 percent early next year, extending price controls introduced after Russia's invasion of Ukraine.

Radio France Internationale

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EU chief proposes energy market reform, $140bn revenue cap

Energy market reforms include the taxation of energy companies and decoupling gas prices from overall electricity bills.

Al Jazeera

Europe's fertiliser shutdown as gas prices soar

Europe's fertiliser industry association says more than 70 per cent of the continent's fertiliser production has been curtailed or shutdown.

ABC News

Fed likely to stay the course on interest rate hike as inflation ticks up but gas prices ease

The Federal Reserve received mixed news in the latest data on U.S. inflation as it mulls another rate hike.

The Conversation

Rising Grocery Prices Pushed Annual Inflation to 8.3 Percent in August

Even as gas prices continued to tumble, rising prices for food and housing pushed inflation higher in August and proved that prices aren't cooling off yet.

Reason

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European gas prices likely to fall sharply this winter, says Goldman Sachs

EU countries’ efforts to avoid big shortages likely to ‘successfully solve’ Russian cuts, says bank

The Guardian - UK

Dow Jones plunges amid news of US inflation rates

Inflation slowed for the second consecutive month as energy costs fall

The Guardian - US

Fears drought and high gas prices could cause UK food shortages this winter

Experts warn of reduced yields for some crops, with low rainfall continuing into the sowing period

The Guardian - UK

EU readies energy package, countries split over gas price cap

The European Union is set to unveil a package of proposed emergency measures this week including a windfall profit levy on energy firms, but countries are split over the details and whether to impose a cap on gas prices.

Reuters

The Tories spent a decade putting fossil fuel profits first. Now we’re all paying the price

Instead of home insulation and cheap renewables ministers have given us fracking, says Max Wakefield, a director at climate action group Possible

The Guardian - UK

Gasoline prices: They're down, then they're up, now they're down. But why?

No household staple has been spared the creep of inflation — not milk and definitely not gasoline, both conveniently sold by the gallon and essential to many family routines.

Tribune News Service

'Harsh winter ahead' could stifle Scottish economic growth

Scotland’s productivity is the third highest off all UK regions and nations, yet still remains below the UK average

Insider UK

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The Guardian - UK

The economic challenges facing Liz Truss, in four charts

Topmost in the new prime minister’s in-tray will be energy bills, wholesale gas prices, inflation and fuel poverty

France 24

EU proposes Russian gas price cap, windfall tax

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have…

Asharq Al-Awsat

Russia Pockets $158 bn in Energy Exports after War

Russia has raked in a whopping 158 billion euros ($158 billion) in energy exports in the six months following its invasion of Ukraine, with the EU accounting for more than half, a think tank said Tuesday. The Centre for Research on Energy and Clean Air called for more effective sanctions…

The Conversation

UK energy crisis: why rationing is likely to happen this winter, whether Liz Truss likes it or not

In the 1970s, the UK government used a series of planned blackouts to manage energy shortages. The result was a three-day week for commercial use of electricity, with work and leisure often happening by torch or candlelight. Without widespread demand reduction to tackle the impact of high gas prices, European…

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The New Daily

Western Australia has the cheapest energy in the OECD, as prices go sky high in eastern states

The costs of energy have dramatically jumped across Australia as war and shortages make themselves felt globally but WA has been spared the shock

Asharq Al-Awsat

Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

Asharq Al-Awsat

Gas Prices Soar as Indefinite Halt of Nord Stream 1 Kindles Winter Fears

Dutch and British wholesale gas prices soared on Monday morning, reversing most of a downward trend seen the previous week, after Russian gas deliveries to Germany via the Nord Stream 1 were suspended indefinitely over the weekend. The British contract for day-ahead delivery sky-rocketed 200 pence, or 133% to 350…

The Guardian - UK

Gas prices soar and pound and euro fall as Russia shuts Nord Stream pipeline

European countries scramble to store as much gas as possible before winter as they brace for shortages

The Guardian - UK

Opec and allies to cut oil output in October; gas prices jump after Russia pipeline closure – as it happened

Oil cartel agrees 100,000 barrels/day cut to production; wholesale gas prices jump after Russia keeps a key pipeline to Europe closed

The Guardian - AU

Russia-Ukraine war: Ukraine says it has pushed Russian forces back near Kramatorsk; last Zaporizhzhia reactor disconnected after Russian shelling – as it happened

Operator Energoatom says last transmission line cut because of a fire caused by shelling; EU and Ukraine sign aid deal

The Independent UK

Gas prices set to soar again on Monday after Russia shuts off Nord Stream supply pipeline

1,200 km gas link was due to reopen on Saturday

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