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DPW official charged for stealing fuel from county gas depot for private company
MAYS LANDING, N.J. — A supervisor in the Atlantic County Department of Public Works has been charged with multiple offenses, including official misconduct, in connection with the unauthorized use of county-owned diesel…
High fuel prices to persist into 2023, Wood Mackenzie says
By Rowena Edwards and Ron Bousso LONDON – Consumers can expect fuel prices at the pump to remain high into next year due to disruptions to Russian oil supplies and as refineries…
West Virginia threatens to bar big banks, Blackrock over perceived fossil fuel boycotts
By Pete Schroeder WASHINGTON – Six of the nation’s largest financial institutions, including JPMorgan Chase, BlackRock Inc, and Wells Fargo, may no longer be allowed to do business with the state of…
Britain orders review of fuel market as pump prices surge
LONDON – Britain’s competition watchdog has been asked by the government to review the retail fuel market to see whether a cut in duty has been passed onto consumers as prices at…
India’s fuel demand jumps 24% year-on-year in May
By Kavya Guduru (Reuters) – India’s fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world’s third biggest oil…
Asia’s jet fuel refining profits hit all-time record, seen climbing further
By Koustav Samanta SINGAPORE – Asian jet fuel refining profits – already at all-time highs – have enough leg room for more gains in the coming weeks, as relaxed border curbs boost…
Massive Oil Refinery On Track To Shut Down Amid Fuel Supply Shortages, Record Prices
Massive Oil Refinery On Track To Shut Down Amid Fuel Supply Shortages, Record Prices Thomas Catenacci on June 7, 2022 UPDATE: This article has been updated to include comment from LyondellBasell Industries…
Portuguese airline TAP says turnaround on track despite fuel costs, FX
LISBON – The restructuring at Portuguese airline TAP, designed to bring it back to profit in the next few years, is on track despite soaring fuel costs and the dollar’s appreciation against…
IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar
By Rachel Savage LONDON – The IMF said on Tuesday governments fighting soaring food and fuel prices should target aid to vulnerable citizens rather than issue across-the-board aid that risked adding to…
Pakistan slashes fuel subsidies in bid to control fiscal deficit – finance minister
KARACHI, Pakistan – Pakistan will slash fuel subsidies for a second time in a week in a bid to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money, the…
Oil, Fuel Prices Skyrocket After EU Rolls Out Russian Ban
Oil, Fuel Prices Skyrocket After EU Rolls Out Russian Ban Thomas Catenacci on May 31, 2022 Global oil and fuel prices surged after the European Union (EU) struck a deal to ban…
Summer fuel shortages looming over Europe, IEA chief tells Spiegel
BERLIN – Europe could face fuel shortages this summer due to squeezed oil markets, the head of the International Energy Agency, Fatih Birol, told Germany’s Spiegel. “When the main holiday season starts…
Mexico’s Cemex to fully operate UK cement plant on alternative fuel
MEXICO CITY -Mexico’s Cemex, one of the largest concrete producers globally, said Monday it would fully operate a cement plant in the United Kingdom on a type of alternative fuel, as the…
U.S., European thirst for fuel sends physical oil prices soaring
By Noah Browning and Alex Lawler LONDON – Sky-high refining margins for diesel and gasoline in Europe and the United States, driven by a cutoff in Russian supply, has sent prices for…
U.S. EPA approves emergency fuel waiver in Texas after refinery outage
(Reuters) – The U.S. Environmental Protection Agency (EPA) issued an emergency air-quality waiver through June 6 to boost supplies of gasoline in East Texas after production was cut at a regional refinery.…
Pakistan hikes fuel prices to unlock IMF funding
By Gibran Naiyyar Peshimam and Asif Shahzad KARACHI, Pakistan -Pakistan on Thursday announced it will hike fuel prices so that it can resume receiving aid from a $6 billion package signed with…
Petrobras shares drop following CEO ouster, fuel price woes
By Gabriel Araujo, Lisandra Paraguassu and Gram Slattery SAO PAULO – Shares of Brazil’s state-run oil company Petrobras plunged on Tuesday after the government ousted its chief executive for the second time…
Sri Lanka hikes fuel prices, encourages people to work from home
COLOMBO – Sri Lanka hiked petrol prices by 20%-24% on Tuesday and also increased diesel prices by 35%-38%, Power and Energy Minister Kanchana Wijesekera said. In a message on Twitter, Wijesekera said…
Biden Considers Draining Yet Another Key Emergency Fuel Stockpile: REPORT
Biden Considers Draining Yet Another Key Emergency Fuel Stockpile: REPORT Thomas Catenacci on May 23, 2022 President Joe Biden is mulling taking action to release federal diesel stockpiles in an attempt to…
Nepal raises retail fuel price, stoking inflation fears
By Gopal Sharma KATHMANDU – Nepal’s state-owned oil company has hiked the retail prices for fuels, including petrol and cooking gas, by up to 12.5% because of rising global oil prices, an…
Mercedes aims to fuel road to electric luxury with ‘desire’
BERLIN -Mercedes-Benz outlined a new strategy fuelled by “creating desire” through scarcity at a strategy day on the French Cote d’Azur, where it showcased its luxury models to analysts, investors and selected…
Ukraine removes fuel price restrictions to increase supply – economy minister
KYIV – Ukraine’s government has lifted restrictions on fuel prices to enable traders to import more and make up the shortage Ukraine is experiencing after Russian forces destroyed many storage facilities and…
Economists Trash Dems’ Fuel Price Control Proposal: ‘Can’t Believe They’re Dumb Enough To Do This’
Economists Trash Dems’ Fuel Price Control Proposal: ‘Can’t Believe They’re Dumb Enough To Do This’ Thomas Catenacci on May 16, 2022 “I just can’t believe they’re dumb enough to do this,” Benjamin…
RUNNING ON EMPTY: America’s Diesel Stockpiles Are Rapidly Dwindling, Fuel Rationing On The Horizon
RUNNING ON EMPTY: America’s Diesel Stockpiles Are Rapidly Dwindling, Fuel Rationing On The Horizon Thomas Catenacci on May 12, 2022 American diesel stockpiles have been depleted while prices have surged to record…
Biden Cancels More Oil And Gas Leases As Fuel Prices Skyrocket
Biden Cancels More Oil And Gas Leases As Fuel Prices Skyrocket Thomas Catenacci on May 12, 2022 The Biden administration canceled all three remaining offshore oil and gas lease sales late Wednesday…
Fuel Prices Hit Record Highs After Biden Promised To Lower Costs
Fuel Prices Hit Record Highs After Biden Promised To Lower Costs Thomas Catenacci on May 10, 2022 The average price of gasoline in the U.S. shot up to a new all-time record…
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