Energy Secretary Grant Shapps has told supermarket and petrol station bosses to stop overcharging motorists for fuel. The government demanded an “immediate end to overcharging” customers at the pump, said Mr. Shapps, after a call with UK retail executives. He took to Twitter to announce that he had called on supermarkets and petrol stations to…
Here’s Where Gas Prices in Canada Are Headed in 2023, According to Analysts
Canadians can expect to see high gasoline prices continue this year, but analysts differ on whether the record-setting peak of $2.10-per-litre national average seen in mid-June 2022—as reported by GasBuddy—could happen again. Gas prices won’t decrease anytime soon, and 2023 will be “expensive and a repeat of 2022,” says Dan McTeague, president of Canadians for Affordable…
Falling Fuel Prices Push UK Inflation Below 10 Percent, but Food Costs Keep Rising
The UK’s inflation rate has fallen for the first time in nearly a year owing to a drop in fuel prices, though it remains close to its 40-year record and food prices keep rising. According to the Office for National Statistics (ONS), the UK’s Consumer Prices Index (CPI) rose by 9.9 percent in the 12…
Flights to Get More Expensive ‘Without a Doubt,’ Air Transport Association Chief Warns
Flight prices are set to rise even further as fuel prices continue to soar, Willie Walsh, director-general of the International Air Transport Association (IATA), has warned. Walsh, who previously served as CEO of Aer Lingus and British Airways, told the BBC’s “Sunday Morning” that airlines would ultimately be forced to pass higher oil prices onto customers in…
UK Drivers Hit by Record Monthly Rise in Petrol Prices
July 6, 2022
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Business & Marketseconomic policieseconomyfuel pricesinflationpersonal financepetrolPriti PatelUKWorld
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British drivers were hit by a record monthly rise in petrol prices in June, motoring group RAC said. The average cost of a litre of petrol rose by 16.59 pence in June, from 174.8 pence to 191.4 pence, adding more than £9 to the cost of filling a typical 55-litre family petrol car, according to…
As Fuel Prices Surge, RV Drivers Take Shorter Trips, Get Vehicles Delivered
NEW YORK—Recreational vehicle renters in the U.S. are planning trips closer to home or having fuel-gulping motor homes delivered to their final destination in an effort to cut down on fuel costs as travel remains a top priority even during record inflation. At the height of the pandemic, recreational vehicle, or RV, vacations exploded in…
Urgent Review Ordered as UK Fuel Prices Reach New High
The UK government has ordered an “urgent” investigation into fuel station operators amid concerns some are pocketing the multi-billion-pound cut to fuel duty, which was originally intended to alleviate the pressure on households. In a letter to the Competition and Markets Authority (CMA), Business Secretary Kwasi Kwarteng expressed concerns that the 5 pence-a-litre reduction had…
What’s Driving Skyhigh Gas Prices, and Is Relief in Sight?
June 10, 2022
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If you are a driver, you have probably been unhappy about how fast gas prices are rising recently. You have probably done multiple Google searches for “gas prices near me” to find the lowest price in your neighborhood. You are probably wondering—and fearful—how high gasoline prices could go before you take your vacation and when…
Cost of a Full Tank of Petrol Hits £100 as Fuel Prices Keep Rising in UK
The cost of filling up an average family car with petrol has risen above £100 ($125) for the first time, as fuel prices keep rising in the UK. According to data firm Experian Catalist, the average price of a litre of petrol at UK forecourts reached a record 182.3p ($2.29) on June 8, an increase…
Southwest, JetBlue Give Upbeat Revenue Outlooks Despite Inflation Worries
May 28, 2022
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Business & EconomyCompaniesEuropefuel pricesinflationJetBlue AirwaysRussia-Ukraine WarSouthwest AirlinesWorld
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Southwest Airlines Co. and JetBlue Airways Corp. on Thursday gave upbeat revenue forecasts for the current quarter on strong travel demand, despite concerns that rising inflation may weigh on consumer spending. U.S. airlines have been buoyed, and in some cases surprised, by how quickly travel snapped back from the depths of the COVID-19 pandemic, leaving…
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