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The Latest Breaking News from Gas Prices

The government and the consumer watchdog are assessing several options to rein in soaring gas prices, including a mandatory code for gas retailers.

AAP

Why the focus on energy prices? Inflation is more likely to be driven by surging housing, transport and food costs

Increases in electricity and gas prices are less to blame for the cost-of-living squeeze than many other components. Here’s why

The Guardian - AU

BP profits soar in 3Q as pressure increases for windfall tax

BP’s earnings have more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine

The Independent UK

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Thousands of Irish households face €200 increase in electricity prices next month

Energy provider Prepay Power has announced their unit rate of electricity will be rising by 9.9% from December 1

Dublin Live

IMF: Diversified Gulf Economy Improves Financial Balance

Gulf Arab oil exporters are expected, on average, to put away about 33 percent of their oil revenues over 2022-26, which will lead to an overall improvement in the financial balance, according to the International Monetary Fund (IMF). The IMF said in its latest report that higher oil and gas…

Asharq Al-Awsat

BP profits almost tripled to £7.1bn amid high oil and gas prices

Soaring oil and gas prices have contributed to the profits

Manchester Evening News

AP source: Biden to float windfall tax on energy producers

President Joe Biden plans to raise the possibility of imposing a ‘windfall tax’ on oil companies, as his administration aims to combat high gas prices just days before the midterm elections

The Independent UK

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Gas prices soared by 37% in first half of 2022, EU figures reveal

Latest figures also show the rate of increase in energy costs in Ireland has been moderate compared to many EU member states

Irish Mirror

Wholesale gas prices add to falls on Halloween, easing cost of living scare

Wholesale natural gas prices fell by over a third during October, helped by the mild autumn weather

Evening Standard

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

Treasurer taking gas price cap 'seriously'

Jim Chalmers says he's taking calls to implement a cap on gas prices seriously as power costs continue to climb for households and small-business owners.

AAP

Germany set to attach conditions to gas price 'brake', sources say

The German government is likely to insist companies that benefit from a planned "brake" on gas prices meet conditions, such as staying in the country or preserving 90% of the jobs they provide for a year, sources familiar with matter told Reuters.

Reuters

The War In Ukraine Could Bring Higher Winter Heating Bills In The US

When it comes to natural gas prices, the U.S. is in a much better position than the European Union.

Zenger

How Biden changed his tune on inflation as prices soared and the midterms loomed

At first, the White House said inflation would be a temporary issue. But it quickly became the top economic priority — and major source of midterm political pain — for President Biden.

WEKU

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The Guardian - UK

ExxonMobil’s record-breaking $20bn profit nearly matches Apple’s

Oil company’s third-quarter result smashes Wall Street forecasts – as does Chevron’s £11.2bn

The Guardian - US

Democrats on the defensive as economy becomes primary concern over abortion

Polls indicate tide shifting toward Republicans with high inflation rates and gas prices working in their favor

The Independent UK

Inflation, gas prices looming over sports biz, concessions

Persistently high inflation and gas prices are looming over sports and the monetary pipeline that resumed when fans returned to games amid the pandemic

WEKU

Whether gas prices are up or down, don't blame or thank the president

Prices at the pump are falling, which is welcome news for Democrats this election season. But politicians have very limited control over energy costs.

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The National (Scotland)

Shell more than doubles third-quarter profit as energy bills soar

OIL giant Shell added almost $10 billion in extra profit as gas prices remained high.

Daily Mirror

Shell profits more than DOUBLE to huge £8billion as Brits struggle against sky-high bills

Shell profits more than doubled to $9.45billion (£8billion) between July and September - up from the $4.2billion the energy giant recorded the same time last year

The Conversation

Cheaper gas and electricity prices are within Australia's grasp – here's what to do

Virtually every country in the world is facing a crisis in energy costs, yet while other countries can’t do much about it, Australia can.

St. Louis Post-Dispatch

Kevin McDermott: Authoritarianism is looming at home and abroad. But gas prices

Authoritarian movements are rising in democracies around the world, in ways not seen since the 1930s. And contrary to the title of a famous dystopian novel from that era, it can happen here. In lots of small ways, it’s already happening.

Bangkok Post

Thailand to rely on coal for power longer amid record gas prices

SINGAPORE: Thailand expects to burn coal for power for longer after it extended the lifespans of some plants to cope with record high natural gas prices, the assistant secretary general of its Energy Regulatory Commission (ERC) said on Wednesday.

The Independent UK

Gas crunch eases in Europe — but the respite might not last

Europe's sky-high natural gas prices have fallen thanks to unseasonably warm weather and efforts to fill up storage ahead of winter

Newcastle Herald

Annual inflation rate rises to 7.3 per cent amid gas price surge

The annual inflation rate has risen to 7.3 per cent as surging gas prices add pressure to household budgets

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