Drivers hit by one of the biggest monthly jumps in fuel prices in decades
1 year, 3 months ago

Drivers hit by one of the biggest monthly jumps in fuel prices in decades

The Telegraph  

Drivers had to stomach one of the largest monthly fuel price rises in more than two decades in August, new data shows. The increase for petrol was the fifth biggest monthly jump in 23 years, according to the RAC, while the rise in diesel was the sixth biggest monthly rise. Higher wholesale prices have rapidly filtered through to the pumps, with petrol prices now at their highest level since December according to the RAC. Rising fuel prices typically push up inflation because it increases the cost of transporting goods.

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History of this topic

UK inflation increases as cigarettes and petrol drive price rises
5 days, 16 hours ago

UK inflation increases as cigarettes and petrol drive price rises

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chancellor of the Exchequer Rachel Reeves said the figures are a “reminder that for …

Air travel likely to become costly as jet fuel prices surge by 1.45 per cent
3 weeks, 2 days ago

Air travel likely to become costly as jet fuel prices surge by 1.45 per cent

India TV News  

The air travel is likely to become costly as the price of aviation turbine fuel or jet fuel was hiked on Sunday by 1.45 per cent in the monthly revision done in line with international oil price trends. The ATF price was increased by Rs 1,318.12 per kilolitre, or 1.45 per cent, to Rs 91,856.84 per litre in Delhi- home …

Petrol and diesel prices remain at three-year low as Reeves freezes tax
1 month, 2 weeks ago

Petrol and diesel prices remain at three-year low as Reeves freezes tax

Daily Mail  

Fuel prices remain at a three-year low, according to the latest data from the RAC. The average price of petrol at the pump is now 135.2p after the Chancellor confirmed in the Budget that fuel duty would remain frozen for another 12 months. The average price of petrol at the pump is now 135.2p after the Chancellor confirmed in the …

Petrol drivers hit with £100 road tax rise – but electric vehicles spared
1 month, 3 weeks ago

Petrol drivers hit with £100 road tax rise – but electric vehicles spared

The Telegraph  

In contrast, petrol, diesel and hybrid drivers face significant increases. Vehicles with emissions of between 51 and 75 grams per kilometre will also suffer a rate rise, from £30 to £130, and all those with even higher emissions will see their first-year rate double. It means fuel duty will remain at 57.95p per litre, where it has remained since March …

Average petrol prices increase again as drivers feel pain at the pumps
8 months ago

Average petrol prices increase again as drivers feel pain at the pumps

The Independent  

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Almost a quarter of forecourts are already charging more than 150p a litre for petrol
8 months ago

Almost a quarter of forecourts are already charging more than 150p a litre for petrol

Daily Mail  

The AA's Fuel Price Report has revealed that almost a quarter of forecourts are already charging more than 150p a litre. The AA studied pump price data across 2910 supermarket and non-supermarket forecourts, only to discover that 693 forecourts were already pricing their petrol above 150p a litre this week. Analysis of Competition and Markets Authority pump price data at …

Gas inflation is back! Prices at the pump surge to $3.47 a gallon but costs vary by as much as $30 a tank between states - here are where motorists are worst-hit
9 months ago

Gas inflation is back! Prices at the pump surge to $3.47 a gallon but costs vary by as much as $30 a tank between states - here are where motorists are worst-hit

Daily Mail  

Costs have been pushed up by recent drone attacks on Russian oil refineries Gas prices are up year-on-year for the first time in 2024, experts said Motorists are facing an average of $52 to fill up a tank of gas, new figures show Motorists are facing an average of $52 to fill up a tank of gas after prices at …

Petrol pumps cap inventory amid hopes of fuel price cut
9 months, 1 week ago

Petrol pumps cap inventory amid hopes of fuel price cut

Live Mint  

New Delhi: Retail fuel pumps across the country are operating with about three days of stock against the usual inventory of five days over the past month amid speculations of a cut in petrol and diesel prices ahead of general elections. Oil marketing companies need to determine retail fuel prices on a daily basis under the dynamic pricing mechanism based …

Monthly inflation lifts to 5.2 per cent in August, as rising fuel, food and insurance prices hit households again
1 year, 2 months ago

Monthly inflation lifts to 5.2 per cent in August, as rising fuel, food and insurance prices hit households again

ABC  

The annual rate of inflation picked up in August to 5.2 per cent from 4.9 per cent, according to the latest monthly measure of inflation. Key points: Monthly inflation picked up in August, rising to 5.2 per cent But the underlying measure of inflation still declined, when volatile prices are stripped from the data Housing, transport, and insurance prices were …

Surging oil price fuels fresh inflation fears as petrol stays above $2 per litre
1 year, 3 months ago

Surging oil price fuels fresh inflation fears as petrol stays above $2 per litre

ABC  

Surging fuel prices are igniting fresh inflation fears, as production cuts by the global oil cartel heap yet more pain on consumers. Key points: Fuel prices across Australia have averaged more than $2 a litre for about a month Analysts say production cuts by the global oil cartel and a weak Aussie dollar are to blame The resurgent price has …

Rising gas prices push up the rate of annual inflation to 3.7% - the second consecutive rise THIS YEAR - but experts insist interest rates will remain steady
1 year, 3 months ago

Rising gas prices push up the rate of annual inflation to 3.7% - the second consecutive rise THIS YEAR - but experts insist interest rates will remain steady

Daily Mail  

Inflation in the US has accelerated for a second consecutive month to a 3.7 percent annual rate - up from 3.2 percent in July. Inflation in the US has accelerated for a second consecutive month to a 3.7 percent annual rate - up from 3.2 percent in August Core inflation, which strips out volatile prices including food and energy and …

High gas prices push up inflation, but prices overall are slowly moving in the right direction
1 year, 3 months ago

High gas prices push up inflation, but prices overall are slowly moving in the right direction

Associated Press  

WASHINGTON — Inflation jumped last month largely because of a spike in gas prices but other costs rose more slowly, suggesting price pressures are easing at a gradual pace. Wednesday’s figures keep the prospect of another rate increase later this year on the table, however, perhaps at its November or December meetings, economists said, because core prices ticked up a …

Petrol prices to stay high as oil prices and weak Australian dollar flow through to the bowser
1 year, 4 months ago

Petrol prices to stay high as oil prices and weak Australian dollar flow through to the bowser

ABC  

Analysts say petrol prices will stay above $2 a litre for "the next few weeks" after reaching their highest level this year, as pressures from the global oil market flow through to petrol bowsers across the country. Key points: The average weekly petrol price sits at 197.5 cents a litre for capital cities and 194.6 cents a litre for regional …

Pakistan: Prices of petrol, diesel hit a record high, new prices reach Rs 290 per litre
1 year, 4 months ago

Pakistan: Prices of petrol, diesel hit a record high, new prices reach Rs 290 per litre

India TV News  

Merely two days after the interim government took oath in Pakistan, it raised petrol and diesel prices to a record high on Tuesday. According to Pakistan English Daily, the new petrol price will be Rs290.45 per litre from today after an increase of Rs17.50 per litre-- another second massive hike in a fortnight that is likely to stoke further inflation, …

Supermarkets hike diesel and petrol prices more than needed, CMA finds
1 year, 7 months ago

Supermarkets hike diesel and petrol prices more than needed, CMA finds

Daily Mail  

Fuel retailers, particularly supermarkets, have hiked diesel and petrol prices more than needed to boost profit margins, the competition watchdog has found. Fuel prices: The CMA will be grilling supermarkets 'to get to the bottom of what is going on' 'Evidence gathered by the CMA indicates that fuel margins have increased across the retail market, but in particular for supermarkets, …

I run Britain's cheapest petrol station and I'm charging far less than the UK average
1 year, 7 months ago

I run Britain's cheapest petrol station and I'm charging far less than the UK average

Daily Mail  

A garage owner is claiming the crown of 'King of the Pumps' because he believes he is selling the cheapest fuel available anywhere in Britain. Vijay Jaganathan is advertising both petrol and diesel at 129.9p per litre at his rural forecourt - compared to the UK average of 145p for petrol and 154p for diesel. Vijay Jaganathan is currently advertising …

How petrol and diesel prices have changed over the past decade
1 year, 7 months ago

How petrol and diesel prices have changed over the past decade

Daily Mail  

Petrol and diesel prices have fallen almost 50p a litre since they peaked last summer, but are still far higher than they were in 2021, new figures have shown. In its weekly report on road fuel prices, the Department of Energy Security and Net Zero reported that the average price of unleaded at the pump is now 145.71p per litre. …

Why petrol prices have reached an all-time high in cash-strapped Pakistan
1 year, 10 months ago

Why petrol prices have reached an all-time high in cash-strapped Pakistan

Firstpost  

Pakistan is facing one of its worst economic crises. After the hike, petrol would cost Rs 249.80 per litre, high-speed diesel Rs 262.80 per litre, kerosene oil Rs 189.83 per litre and light diesel oil Rs 187 per litre. High Speed Diesel-Rs 262.80 per litre MS Petrol —Rs 249.80 per litre Kerosene Oil -Rs 189.83 per litre Light Diesel Oil …

RAC urges supermarkets to cut fuel prices as cost of filling up hits Christmas record
2 years ago

RAC urges supermarkets to cut fuel prices as cost of filling up hits Christmas record

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The organisation also notes that the government’s 5p-per-litre cut …

Gas prices are rising, with the Los Angeles County average jumping 8.5 cents overnight
2 years, 3 months ago

Gas prices are rising, with the Los Angeles County average jumping 8.5 cents overnight

LA Times  

The question now is whether pump price increases are just a blip or the precursor to the return of sustained higher prices. Los Angeles County’s average gas price rose Wednesday to $5.545 for a gallon of self-service regular, up 8.5 cents from the day before, AAA data show, as refinery problems accelerated increases that began nearly three weeks ago. He …

Inflation dipped in August, but remains stubbornly high
2 years, 3 months ago

Inflation dipped in August, but remains stubbornly high

CBS News  

Inflation in August slowed for a second straight month, although prices remain near a four-decade high as costs for items such as food and rent continue to climb. The Consumer Price Index increased 8.3% in the past 12 months, as rising prices for groceries, shelter and medical care offset tumbling gasoline prices. The last inflation data amounts to a slight …

Inflation to hit 18.6% by January as gas prices continue to surge, Citi warns
2 years, 4 months ago

Inflation to hit 18.6% by January as gas prices continue to surge, Citi warns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation is set to surge …

Petrol prices ‘on course to dip below 160p a litre’
2 years, 4 months ago

Petrol prices ‘on course to dip below 160p a litre’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Prices at the petrol pump …

Inflation impact: The falling mileage of paying for soaring fuel costs
2 years, 7 months ago

Inflation impact: The falling mileage of paying for soaring fuel costs

The Hindu  

“When will the rising petrol prices stop.” This was the question asked by a 26-year-old, who works as a delivery boy with an online app in Madurai. While the common man, in many places, is being forced to depend on public transport or take share-autorickshaw rides, many autorickshaws plying in Coimbatore district have halved the number of trips in the …

ATF price hiked by 5.3%
2 years, 7 months ago

ATF price hiked by 5.3%

The Hindu  

Jet fuel prices on Monday were hiked by a steep 5.3% — the tenth straight increase this year — to an all-time high, in line with a surge in global energy prices. Meanwhile, petrol and diesel prices remained unchanged for the 41st straight day after rising by a record ₹10 per litre each. Jet fuel prices are revised on the …

Oil rises 4% as US gasoline prices jump to record high
2 years, 7 months ago

Oil rises 4% as US gasoline prices jump to record high

Al Jazeera  

Global benchmark Brent fell for the first time in three weeks. Oil prices rose about 4 percent on Friday as United States gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Automobile club AAA said US prices at the pump rose to …

U.S. consumer prices accelerate in March
2 years, 8 months ago

U.S. consumer prices accelerate in March

The Hindu  

U.S. monthly consumer prices increased by the most in 16-1/2 years in March as Russia's war against Ukraine boosted the cost of gasoline to record highs, cementing the case for a 50 basis points interest rate hike from the Federal Reserve next month. The consumer price index surged 1.2% last month, the biggest monthly gain since September 2005, the Labor …

US inflation at over 40-year high, boosting Fed’s case for aggressive hikes
2 years, 8 months ago

US inflation at over 40-year high, boosting Fed’s case for aggressive hikes

Live Mint  

US consumer prices rose 8.5% annually in March, highest since December 1981, bolstering a case for Fed to hike rates at a faster pace. The widely followed inflation gauge rose 1.2% from a month earlier, the biggest gain since 2005. The March inflation numbers were the first to capture the full surge in gasoline prices that followed Russia’s invasion of …

Petrol prices: March worst month ever at the pumps
2 years, 8 months ago

Petrol prices: March worst month ever at the pumps

Daily Mail  

Motorists endured one of the 'worst months ever at the pumps' in March as fuel prices grew the largest amount on record, despite the Chancellor's efforts to cut the cost of petrol and diesel by lowering fuel duty. Analysis of Experian Catalist data found that the average cost of a litre of petrol rose by 11.6p from the beginning to …

Rise in petrol prices in US, Germany 51% and 55%, in India it's 5%: Union Minister Hardeep Singh Puri
2 years, 8 months ago

Rise in petrol prices in US, Germany 51% and 55%, in India it's 5%: Union Minister Hardeep Singh Puri

India TV News  

Highlights Rise in petrol prices India comparatively lower than US, Germany, UK, France, says Union Minister Global crude oil prices have risen due to the Russian-Ukrainian war Hardeep Puri made the statement in Lok Sabha Rise in domestic petrol prices, due to high crude oil costs, is comparatively lower than other countries such as the US, Germany, the UK and …

Air Travel to Get More Expensive as ATF Prices Hiked to All-Time High in India
2 years, 8 months ago

Air Travel to Get More Expensive as ATF Prices Hiked to All-Time High in India

News 18  

Jet fuel prices were hiked today by 2 per cent – the seventh straight increase this year – to an all-time high, reflecting a surge in global energy prices. Aviation turbine fuel was hiked by ₹ 2,258.54 per kilolitre, or 2 per cent, to ₹ 1,12,924.83 per kl in the national capital, according to a price notification by state-owned fuel …

Petrol, diesel prices hiked by 80 paise
2 years, 8 months ago

Petrol, diesel prices hiked by 80 paise

The Hindu  

Petrol and diesel prices on Wednesday, March 30, 2022, were hiked by 80 paise a litre each, taking the total increase in rates in the last nine days to Rs 5.60 per litre. Petrol in Delhi will now cost Rs 101.01 per litre as against Rs 100.21 previously while diesel rates have gone up from Rs 91.47 per litre to …

Petrol price hiked 50 paise, diesel up 55 paise
2 years, 8 months ago

Petrol price hiked 50 paise, diesel up 55 paise

The Hindu  

Petrol price on Sunday was hiked by 50 paise a litre and diesel by 55 paise, taking the total increase in rates since resumption of daily price revision less than a week back to ₹3.70-3.75 per litre. Petrol in Delhi will now cost ₹99.11 per litre as against ₹98.61 previously while diesel rates have gone up from ₹89.87 per litre …

Petrol, diesel prices hiked again, fourth time in five days
2 years, 8 months ago

Petrol, diesel prices hiked again, fourth time in five days

Deccan Chronicle  

New Delhi: Petrol and diesel prices were hiked by 80 paise a litre each on Saturday, the fourth increase in five days as oil firms passed on to consumers the spike in cost of raw material. Oil companies, who did not revise petrol and diesel rates for a record 137 days despite prices of crude oil rising to USD 117 …

Petrol, diesel prices up 80 paise a litre for 2nd straight day
2 years, 9 months ago

Petrol, diesel prices up 80 paise a litre for 2nd straight day

Live Mint  

Petrol and diesel prices jumped by 80 paise per litre for the second day in a row on Wednesday. Lim, Analyst at S&P Global Commodity Insights, said: “In the near term, we expect India’s oil demand to remain robust in the first half of March, but it is likely to ease in the second half as retail prices are hiked, …

India sees first fuel price hike in 4 months. Cooking gas costlier too
2 years, 9 months ago

India sees first fuel price hike in 4 months. Cooking gas costlier too

Hindustan Times  

In the first hike in four months, the fuel prices have been raised in India. In Mumbai, India's financial capital, the petrol and diesel prices have increased to ₹110.82/litre and ₹95.00/ litre, respectively. Cities Prices Today Petrol Diesel Delhi ₹ 96.21 ₹ 87.47 Mumbai ₹ 110.82 ₹ 95.00 Chennai ₹ 102.16 ₹ 92.19 Kolkata ₹ 105.51 ₹ 90.62 Indian Oil …

Diesel price hiked Rs 25 per litre for bulk users, no change in retail
2 years, 9 months ago

Diesel price hiked Rs 25 per litre for bulk users, no change in retail

India TV News  

The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. The wide difference of about Rs 25 per litre between the bulk user rate and petrol pump price has prompted …

Oil price hike may be delayed as crude plunges below $100
2 years, 9 months ago

Oil price hike may be delayed as crude plunges below $100

Hindustan Times  

The price of petrol and diesel may not rise as much as feared because the price of crude oil has declined by about 30% after hitting an intraday peak of $139 per barrel for Brent Crude on March 7. “Certainly, there is some relief now due to softening of international oil prices.” Pump prices in India are pegged to the …

History repeating as unpopular Prime Minister contends with pre-election petrol price rises
2 years, 9 months ago

History repeating as unpopular Prime Minister contends with pre-election petrol price rises

ABC  

Petrol prices have a wonderful ability to annoy people even when they are not buying fuel. Russia's invasion of Ukraine in many ways has poured fuel onto an already burning fire of petrol prices. With petrol prices skyrocketing, rumblings of a by-election in the Melbourne electorate of Aston and a Prime Minister struggling in the polls ahead of an election, …

US inflation soared 7.9% in past year, a fresh 40-year high
2 years, 9 months ago

US inflation soared 7.9% in past year, a fresh 40-year high

Associated Press  

WASHINGTON — Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. “I hope I’m not wrong.” Energy prices, which soared after Russia’s invasion of Ukraine, jumped again this week after Biden said the United States would …

Petrol soars above £2 a litre in UK as Ukraine war drives up prices
2 years, 9 months ago

Petrol soars above £2 a litre in UK as Ukraine war drives up prices

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Petrol prices have reached record highs of over £2 per …

How high could gas prices go? More pain at the pump likely coming
2 years, 9 months ago

How high could gas prices go? More pain at the pump likely coming

LA Times  

Based on wholesale gasoline futures just before Biden’s announcement, average gas prices will probably hit $4.50 a gallon nationally in the next couple of days. And if crude oil prices keep rising, analysts say it’s not hard to see fuel costs reaching $5 a gallon on average — which means $6 to $7 in California and some parts of the …

Petrol hits all-time high of 151p per litre while diesel soars to record 155p amid Ukraine crisis
2 years, 9 months ago

Petrol hits all-time high of 151p per litre while diesel soars to record 155p amid Ukraine crisis

Daily Mail  

Petrol prices have skyrocketed to their all-time highest level as Russia's brutal war in Ukraine continues to hit Britons in the pocket. Crude oil barrels last week soared to over $100 per barrel for the first time since Russia's last foreign excursion into Crimea in 2014. Pictured: Ashford in Kent today Russia's invasion of Ukraine is continuing to cause price …

Russian invasion of Ukraine threatens to push petrol prices to £1.60 a litre
2 years, 10 months ago

Russian invasion of Ukraine threatens to push petrol prices to £1.60 a litre

The Telegraph  

Petrol prices could soar to £1.60 a litre after Russia’s invasion of Ukraine, the RAC has warned, with food and energy bills also poised for new record highs. Economists said that the headline rate of inflation in Britain would now hit 8.2 per cent in April, up from a previous estimate of 6.7 per cent and more than four times …

Inflation is painfully high, but some relief may be coming
3 years ago

Inflation is painfully high, but some relief may be coming

Associated Press  

NEW YORK — Inflation is painfully high, but this hopefully is close to as bad as it gets. We’re just lowering the rate of change, not the level of prices.” Russell Price, chief economist at Ameriprise, expects inflation to peak at 7.1% in December and January, for example. That’s progress, though drivers are still paying far higher prices than last …

Will petrol prices rise above $2 a litre?
3 years ago

Will petrol prices rise above $2 a litre?

ABC  

Petrol prices are soaring. It says it isn't producing too much oil at the moment because there's a chance that further COVID outbreaks could derail the already fragile global recovery, and that would undermine global oil demand again. However, he also said global oil prices had dropped over 10 per cent in the last month and that it would hopefully …

Petrol, diesel price hiked again; cost 30% more than ATF
3 years, 2 months ago

Petrol, diesel price hiked again; cost 30% more than ATF

The Hindu  

Petrol and diesel price on Sunday was hiked again by 35 paise a litre and the auto fuels now cost a third more than the rate at which aviation turbine fuel / jet fuel is sold to airlines. The fourth straight day of 35 paise per litre hike sent petrol and diesel rates to record highs across the country. Since …

Fuel Prices October 1: Petrol, Diesel Prices Touch Record High Due To Rise In Crude Prices
3 years, 2 months ago

Fuel Prices October 1: Petrol, Diesel Prices Touch Record High Due To Rise In Crude Prices

ABP News  

New Delhi: Petrol and diesel prices continue to rise unabated to touch all-time high on Friday after rates were hiked by 25 paise and 30 paise a litre respectively. The price of petrol in Chennai is at Rs 99.58 and Rs 94.74 per litre of diesel. Petrol price in Chennai raised to Rs 99.58 from earlier Rs 99.36 a litre, …

Respite From Sky-High Petrol, Diesel Prices May be Far, Chief Economic Adviser Says Fuel Tax Cut Unlikely
3 years, 5 months ago

Respite From Sky-High Petrol, Diesel Prices May be Far, Chief Economic Adviser Says Fuel Tax Cut Unlikely

News 18  

Chief Economic Adviser Krishnamurthy Subramanian hinted that the government is unlikely to cut fuel taxes, though petrol and diesel rates are a record high. He said that reducing fuel taxes may not have a significant impact on retail inflation, since the weightage in the index is low. “If you look at the last 6-7 years, anywhere between 35-60 percent of …

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