Fuel prices

Venezuela, Iran and Kuwait top list for world’s cheapest petrol

Oil-rich nations in South America, the Middle East and Africa continue to offer the lowest pump prices, with government subsidies keeping fuel costs far below the global average.

US Gas Prices Reach $3.52 as Obama Considers Oil Reserve Release

Rising fuel costs in late 2008 saw average US petrol prices hit $3.52 per gallon, prompting President-elect Obama to weigh tapping the Strategic Petroleum Reserve.

US Government Weighs Wider Red-Dyed Diesel Sales Amid Record Prices

The Trump administration is considering broader red-dyed diesel sales to address record diesel prices, though experts question whether the move would deliver meaningful relief.

China’s CO2 Emissions Fall as Oil Imports Plunge and EVs Surge

A 1% drop in China’s carbon emissions follows a 32% cut in oil imports and a rapid shift to electric vehicles, with analysts suggesting some oil demand may never return.

UK petrol prices surge past 130p a litre as oil costs rise

Unleaded petrol in the UK has crossed the 130p per litre mark, driven by a 15% jump in crude oil prices since January and global supply concerns.

Study finds roof racks can raise fuel use by up to 25%

Research shows that roof racks, even when unused, can cut fuel efficiency sharply due to added aerodynamic drag, with a major impact on total petrol consumption.

US fuel prices hit lowest quarterly average since 2004

American drivers paid an average of $1.86 per gallon for petrol in the first quarter of 2016, saving nearly $10 billion compared to the same period last year.

US drivers set new record with 3.15 trillion miles travelled in 2015

Americans drove a record 3.15 trillion miles in 2015, fuelled by low petrol prices and surging vehicle sales, according to Federal Highway Administration data.

US new auto loan amounts reach record high, Experian reports

Average new-vehicle loan size in the US climbed to $29,551 in late 2015, as longer terms and strong sales pushed borrowing to new heights.

Toyota Prius Targets US Buyers With Super Bowl Push Amid Cheap Petrol

Toyota used its 2016 Super Bowl ad slot to promote the new Prius, aiming to boost hybrid appeal as low fuel prices drove Americans to larger vehicles.

OPEC Considers Oil Price Hike, Threatening US SUV Boom

OPEC's strategy shift could push oil prices higher next year, putting pressure on US buyers of large SUVs and pickups that have thrived on cheap fuel.

West Coast refinery issues push up US average petrol price

Supply problems and special fuel blends in California and neighbouring states have kept US average petrol prices higher, despite falling global crude oil costs.

US summer road travel set to rise as petrol prices fall

American drivers are expected to take more road trips in summer 2015, with national petrol prices forecast to reach their lowest seasonal level since 2009.

Samsung SDI: Low Oil Prices Unlikely to Derail Electric Vehicle Growth

Samsung SDI maintains that falling oil prices will not slow the global shift to electric vehicles, citing regulatory pressure as the key driver through 2020.

US new vehicle fuel economy stalls as petrol prices drop

Average fuel efficiency of new cars sold in the US has flatlined at 25.3 mpg, as buyers turn to larger vehicles amid the lowest petrol prices in four years.

US SUV and Pickup Sales Surge as Fuel Prices Fall

Cheaper petrol and improved fuel economy have sent American buyers back to large SUVs and pickups, boosting Detroit automakers’ profits to levels not seen since before the recession.

French riot police fire teargas at fuel tax protesters outside Paris auto show

Riot police used teargas and water cannons to disperse yellow vest demonstrators near the Paris Motor Show, as protests against fuel tax rises intensified in late 2018.

US Petrol Prices Hold Steady as Memorial Day Travel Begins

With nearly 30 million Americans expected to travel by car for Memorial Day, national average petrol prices remain close to last year’s levels, despite regional volatility.

Tropical Storm Helene Leaves Gulf Oil Operations Unaffected

Despite forming near key oil-producing areas, Tropical Storm Helene in August 2012 did not disrupt Gulf of Mexico energy infrastructure or impact petrol prices.

Oil Retreats from Seven-Week High as Demand Concerns Grow

Crude prices slipped from recent highs after weak economic signals from China and lower profit forecasts for European companies raised doubts over fuel demand.

European jet fuel imports surge as refinery closures bite

With six European refineries closed in 2012, jet fuel imports from Asia and the Middle East are set to hit 1.9 million tonnes, the highest since March 2011.

Exxon Mobil confirms plan to export US LNG as shale glut drives prices down

Exxon Mobil aims to ship liquefied natural gas from the United States, with CEO Rex Tillerson citing low domestic prices and increased shale production as key drivers.

German Petrol Station Charges €9.99 per Litre Amid Shortage

An Esso station in Filderstadt, Germany, posted a €9.99 per litre price for premium fuel as supplies dwindled during a nationwide shortage, leaving customers shocked.

Japan Earthquake Puts Upward Pressure on US Petrol Prices

Japan’s earthquake has disrupted refining capacity and boosted demand for refined fuels, raising the prospect of higher petrol prices in the US.