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The Latest Breaking News from Gas Prices

As gas prices soar, Gov. Newsom demands tax on 'rip off' oil companies and urges switch to winter-blend fuel

As gas prices in California soar, Gov. Gavin Newsom on Friday called on lawmakers to introduce a windfall tax on "rip off" oil companies and urged state air regulators to allow refineries to produce cheaper winter-blend gasoline to help boost supplies and cut prices.

Los Angeles Times

Newsom relaxes refinery rules as California gas prices soar

California Gov. Gavin Newsom has called on state regulators to relax rules on oil refineries in an effort to lower soaring fuel prices

The Independent UK

The Government’s energy price cap comes into force on Saturday

The Government’s energy price cap to shield households and businesses from the worst of the soaring oil and gas prices comes into effect on Saturday.

Evening Standard

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EU energy ministers meet in Brussels in a bid to off-set winter fuel crisis

European Union energy ministers are meeting in Brussels to adopt a package of measures including a windfall levy on profits by fossil fuel companies – but a deal on capping gas prices remains off the table.

Radio France Internationale

Gas prices rise in Kentucky ahead of Hurricane Ian

WEKU

Germany unveils €200bn help for consumers and says it won’t follow UK’s route

Finance minister announces €200bn fund to protect citizens from rising gas prices driven by Russia’s war in Ukraine

The Guardian - UK

Gas prices rise in Europe as fears grow Russia may halt supplies via Ukraine

Threat of sanctions from Gazprom adds to turmoil caused by damage to Nord Stream pipelines in Baltic Sea

The Guardian - UK

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U.S. mood ticks up with lower gas prices

That helps President Biden and Democrats ahead of midterms, 41 days away.

Axios

Europe's energy prices ranked as global gas costs tumble — and how UK compares

Energy prices have started to dip after reaching record highs this summer. Should the wholesale price of energy continue to tumble, it could be good news for the UK government's books

Daily Mirror

Long gas lines and panic buying as Hurricane Ian heads towards Florida

Gas prices have held steady

The Independent UK

In Moldova, thousands in new call for government's resignation

Several thousand people protested in Moldova's capital on Sunday for the second straight weekend to demand the resignation of the country's pro-Western government amid mounting anger over spiralling natural gas prices and inflation.

Reuters

California gas is ‘out of whack’ – nearly $2 more than national average

California has long been known as the country’s priciest place to fill up your tank, but these days the Golden State is “completely out of whack.”

Tribune News Service

Five charts that will underpin chancellor’s mini-budget

From soaring inflation and gas prices to tax take and national debt, these are the trend lines that frame Kwasi Kwarteng’s calculations

The Guardian - UK

Everything we know as Irish bills set to soar in price in nine days' time

Millions of Irish customers are set to be hit with a big increase in their electricity bills this winter

Dublin Live

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Liverpool Echo

Martin Lewis explains why bills aren't dropping despite gas price change

Gas prices have dropped but it won't change your energy bill

The Conversation

Energy crisis: how the EU hopes to tackle high power prices while protecting its cross-border electricity market

Europe is getting more of its power from renewable sources every year but, as the current crisis has shown, power markets remain at the mercy of increasingly volatile gas prices. The EU Commission has recently proposed a plan to relieve the crisis by decoupling electricity and gas prices. But the…

Bristol Post

Martin Lewis explains why your bills won't drop despite gas prices going down

He has offered advice on what to do ahead of the price change in October

Wales Online

Martin Lewis reveals whether our bills will go down as gas prices fall

It's not as straightforward as it might look

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WEKU

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.

The Denver Post

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.

Radio France Internationale

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.

Al Jazeera

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.

ABC News

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.

The Conversation

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.

Reason

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.

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