Inflation relief: California, other states are sending out checks, but some experts say they could contribute to rising prices

Several states send taxpayers’ money to help them cope with inflation, but some economists warn that the payments will do little to ease the pain of rising costs and fuel inflation. In California, for example, about 23 million eligible taxpayers are expected to receive up to $1,500, with smaller payments going to higher earners. The … Read more

Gas prices are rising by as much as 19 cents in some Canadian cities

Editor’s Note: An earlier headline on this story incorrectly mentioned how high gas prices in Canada rose overnight. In fact, gas prices rose as much as 19.4 cents per litre. Global News regrets this mistake. Gasoline prices rose overnight in some cities across Canada, in many cases by about ten cents a liter and nearly … Read more

Albertans see tax hike on gas prices October 1

Albertans will see a partial refund of the provincial fuel tax on the price of gasoline and diesel from Oct. 1, as retailers have been told by the UCP government to collect 4.5 cents per liter. Retailers were notified of the change through a special notice sent by the county on Sept. 21. READ MORE: … 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

When will you receive your California inflation relief payment?

In the coming weeks, California taxpayers are expected to begin receiving payments promised in response to rising gas prices and the cost of living. $500,000 per year in payments between $200 and $1,050, depending on income and family size. You can see here how much you qualify for. Eligibility is based on 2020 tax returns. … Read more

Los Angeles County Average Gas Price Rises for 9th Consecutive Day

LOS ANGELES (CNS) — The average price of a gallon of self-service gasoline in Los Angeles County rose for the ninth straight day on Sunday after falling 78 from the previous 80 days, by 1.8 cents to $5,386. The average price has risen 14 cents in the past nine days, of which 1.6 cents on … Read more

Record LNG exports from the US to Europe may not end

The United States and its natural gas have been key to Europe’s bid to fill its gas storage for this winter season. Nevertheless, record LNG exports in the US have led to a rise in domestic gas prices. The boomerang returns. When President Joe Biden promised the European Union that there would be enough natural … 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

Russia flares natural gas as supply to Europe is choked

Russia flares natural gas at the Portovaya plant near the Finnish border as gas flows through the Nord Stream pipeline into Germany are drastically reduced, an analysis by Rystad Energy shared with BBC News showed on Friday. The plant northwest of St. Petersburg is estimated to flare about $10 million worth of natural gas a … Read more

Rising natural gas prices could force US to cut exports to Europe

Natural gas prices in the United States hit their highest level in 14 years this week, with the Henry Hub benchmark temporarily surpassing $10 per million British thermal units. And the demand is not going to decrease any time soon. The United States has emerged as the largest supplier of natural gas to troubled Europe … Read more