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The Latest Breaking News from Gas Prices

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

The Independent UK

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

Newcastle Herald

Anthony Albanese considering electricity market intervention as federal budget forecasts surging prices

The federal budget is forecasting a 56 per cent increase in electricity prices and a 44 per cent increase in gas prices in the next 18 months, prompting Prime Minister Anthony Albanese to flag possible market intervention.

ABC News

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Texas natural gas drops toward zero as output swamps pipelines

Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of the fuel.

Tribune News Service

European gas prices plunge to lowest since June due to mild weather and full storage tanks OLD

Price 70 per cent lower than in August but still much higher than over past 10 years

The Independent UK

GOP pans oil reserve sale despite a long and bipartisan history - Roll Call

Presidents from both parties have ordered sales from the Strategic Petroleum Reserve to soften spikes in gas prices.

Roll Call

Nigeria's Tinubu: Will remove fuel subsidy, deregulate gas prices if elected

Nigeria's presidential frontrunner Bola Tinubu on Friday promised to remove a fuel subsidy if elected next February, adding that his government would ramp up oil production and deregulate midstream gas prices within six months.

Reuters

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Editorial: Oil drillers want to overturn California’s new health protections. Don’t let them

You might soon be approached outside your grocery store by signature gatherers urging you to sign a petition about lowering gas prices or stopping a so-called “energy shutdown.”

Los Angeles Times

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

EU Agrees 'Roadmap' to Contain Energy Prices

EU leaders on Friday reached agreement on a "roadmap" aimed at putting in place measures within weeks to shield European consumers from soaring energy prices. The accord came after 11 hours of wrangling over broad proposals to lower energy bills as gas prices pushed skywards by the war in Ukraine,…

Asharq Al-Awsat

3 Energy Stocks Not Worth The Money

President Biden has announced a sale of U.S. strategic reserves to bring down gas prices, while OPEC has slashed its oil demand growth estimates. Amid this, we believe fundamentally weak energy stocks Frontline (FRO), Tellurian (TELL), and Camber Energy (CEI) might be best avoided. Read on….

StockNews.com

EU leaders to keep studying gas price caps

European Union leaders ended another debate on the bloc's response to the energy crunch without agreement on whether to cap gas prices, deciding in the early hours of Friday morning to keep examining options to put a ceiling on costs.

Reuters

Cooking gas price frozen

Cooking gas prices will remain unchanged until the end of this year, even though world prices for liquefied petroleum gas (LPG) are falling, as authorities seek to shore up the heavily indebted Oil Fuel Fund.

Bangkok Post

Fetterman v Oz – live: Biden heads to Pennsylvania as polls show key Senate race tightening

Follow for updates on the 2022 midterms

The Independent UK

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Asharq Al-Awsat

Saudi Arabia to Manufacture, Export more than 150,000 Electric Cars by 2026

Saudi ministers said that they were working together to advance the industrial sector and achieve the goals of the National Industrial Strategy, which was launched by Crown Prince Mohammad bin Salman on Tuesday. They added that talks were underway with international companies to establish a center for car manufacturing in…

The Guardian - UK

First Thing: Biden implores US oil companies to pass on record profits

President announces release of 15m barrels of oil from strategic reserve as he fights to keep gas prices in check before midterms. Plus, why spending time with strangers can make you happy

The Guardian - AU

Labor faces employer revolt over changes to multi-employer pay deals in IR bill

Adding to pressure on Albanese government, unions are warning of risk to manufacturing jobs from sky-rocketing gas prices

The Guardian - US

Biden implores US oil companies to pass on record profits to consumers

US president announces release of 15m barrels of oil from strategic reserve as he fights to keep gas prices in check before midterms

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news in one place.

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The Independent UK

Facing tough midterms, Biden releasing oil from US reserve

President Joe Biden is telling voters that he hasn’t given up on lowering gasoline prices

Los Angeles Times

Like ‘two separate elections.’ How abortion and inflation have taken over California political ads

LOS ANGELES — The congressional election ads bombarding Californians show a sharp dichotomy in priorities — Democrats are laser-focused on abortion access, while Republicans zero in on inflation.

The Guardian - US

Biden to release 15m barrels from strategic reserve in effort to tamp down gas prices – as it happened

Move is president’s attempt to mitigate concerns over the economy as midterms approach

Al Jazeera

EU response to energy crisis looms amid rising oil, gas prices

Energy prices began soaring last year after lifting of pandemic lockdowns, followed by Russia’s war in Ukraine.

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

Roll Call

Biden to announce more oil reserve sales to reduce gas prices - Roll Call

The Biden administration will sell another tranche of oil from the national reserve in December to put a damper on gasoline prices.

Axios

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.

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