Why curbing US fuel exports is a bad idea?

The Biden administration has not given up on the idea of ​​restricting fuel exports from the US, as the White House claims it would ease the pressure on consumers at the pump. The government also continues to attack the US oil industry, blaming it for making huge profits rather than passing on the savings to … Read more

What is inflationary psychology and how does it affect our rising cost of living?

In early September, Reserve Bank Governor Philip Lowe began his annual address to the Anika Foundation, discussing inflation and the country’s future prospects. It was two days after the RBA’s governor confirmed the country’s fifth consecutive hike in the country’s cash interest rates. “After several years of below target inflation, it is now significantly above … Read more

Strike at Exxon refinery contributes to energy problems in Europe

The 240,000 barrels-a-day Port Jerome-Gravenchon oil refinery in France, operated by ExxonMobil, is producing less fuel due to plant strikes, Exxon told Reuters on Wednesday. French unions called for the strike over disagreements over wage negotiations with ExxonMobil. The strikes at the Port Jerome-Gravenchon refinery and the Notre Dame de Gravenchon (NDG) petrochemical site were … Read more

China’s gasoline and diesel exports exploded in August

By Charles Kennedy – September 19, 2022, 2:41 CDT China exported no less than 97.4% more gasoline in August 2022 than the year before. This huge increase was largely due to a new set of fuel export quotas amid sluggish domestic demand. Diesel exports from China also increased significantly in August, up … Read more

Drivers in Central Alberta profit from gas price war

Drivers in Red Deer, Alta., are currently jealous of the county. While prices in Calgary and Edmonton continue to hover around $1.40 a liter, some stations in central Alberta are selling gas for as little as $1.16. “You’re being ripped off,” said Red Deer resident Jim Boyd, as he filled up his truck Friday morning. … Read more

Entrepreneurs in Outback Queensland, farmers concerned that the end of rising fuel costs is not yet in sight

Residents of rural communities hard hit by rising fuel costs say further price hikes will have a major impact on farmers, tourist operators and entrepreneurs who are already thin on the ground. Most important points: Entrepreneurs in rural communities say rising freight costs are a major burden as fuel prices threaten to rise even further … Read more

US producer price index falls due to lower gasoline prices

The US Bureau of Labor Statistics released a report showing the second consecutive monthly decline in producer prices, driven by steadily falling gasoline prices. The Producer Price Index (PPI) shows a 0.1% decline in final demand in August, compared to a 0.4% decline in July. In general, the last PPI shows a price decrease of … Read more

Fuel will rise 25 cents this month and Europe’s energy crisis could push diesel prices even further, economist says

Fuel prices are expected to rise 25.3 cents per liter by the end of the month, when the government’s fuel tax cut ends. It’s because cost of living pressures continue to mount and fuel prices are at their highest in 14 years in real terms. The situation could get worse before it gets better, as … Read more

Record high gas prices could be bullish for oil

At the moment, oil bears seem to rule as global crude oil prices have fallen even after OPEC+ agreed to a symbolic 100,000 barrel-a-day cut in production. Recession fears, inflation and a slowdown in industrial activity are supporting the bearish case, as oil prices reflect. Still, volatility remains high as Russia’s inconsistent tone vis-a-vis crude … Read more

Have we seen the last of $2 a gallon of gas for a while?

Average fuel prices in Australian capitals remain well below their March and June peaks. Recent data shows that fuel is about 30-35 cents per liter lower than the highs of two months ago. Last week, the average price of unleaded 95 octane in eight capital cities was $1.90 per liter. The question on the mind … Read more