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The Latest Breaking News from Gas Prices

California lawmakers OK potential fines for high gas prices

California lawmakers have approved the nation's first penalty for price gouging at the pump

The Independent UK

Editorial: Sunlight can help California rein in Big Oil’s greed

After months with little apparent progress, Gov. Gavin Newsom’s proposal to hold the oil industry accountable for high gas prices and deter price gouging is now on a fast track toward passage in the California Legislature.

Los Angeles Times

Fill up Your Portfolio With These 3 Gas Stocks

Regardless of the retreat in oil and gas prices from their peaks a year ago, resurgent global energy demand amid constrained supplies appears to be an enduring tailwind for U.S. energy producers. Hence, it could be wise to invest in fundamentally sound gas stocks, Marathon Petroleum (MPC), CVR Energy (CVI),…

StockNews.com

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3 Energy Stocks Heating up Right Now and 1 That's Not

Regardless of the retreat in oil and gas prices from their peaks almost a year ago, resurgent global energy demand amid constrained supplies appears to be an enduring tailwind for U.S. energy producers. Hence, while it could be wise to invest in fundamentally sound energy stocks, Shell (SHEL), PBF Energy…

StockNews.com

How cars 'waste' two thirds of their fuel

With the rise in gas prices showing no signs of abating, it seems like an appropriate time to ask ourselves: are our cars not efficient enough? Europe has decided to ban the production of new combustion engine-powered vehicles by 2035, but most passenger vehicles currently on roads in France and…

The Conversation

Doubling of BP boss pay to £10m is a ‘kick in the teeth’, say campaigners

Bernard Looney’s bumper pay package follows annual profits of £23bn linked to soaring gas prices sparked by Russia-Ukraine war

The Guardian - UK

Give Your Portfolio an Energy Boost With These 4 Stocks

Regardless of the retreat in oil and gas prices from their peaks almost a year ago, resurgent global energy demand amid constrained supplies appears to be an enduring tailwind for U.S. energy producers. Hence, it could be wise to invest in fundamentally sound energy stocks, Valero Energy (VLO), Unit Corporation…

StockNews.com

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Gov. Newsom blames oil companies for California's high gas prices. Could the state sue them?

SACRAMENTO, Calif. — As lawmakers debate who is to blame for California’s high gas prices, Attorney General Rob Bonta is seeking millions of new dollars to investigate and possibly sue oil companies over the matter.

Tribune News Service

PG&E delivers bill shocks to customers amid soaring natural gas prices

Soaring prices for natural gas and this winter’s icy blasts have jolted unsuspecting PG&E customers with brutal — and fast-rising — monthly utility bills.

Tribune News Service

Gas prices are falling but your energy bills still won't be affordable any time soon

Wholesale gas prices – the price paid by the company that then sells it on to you – are at last starting to fall to levels below where they were before Russia invaded Ukraine in February 2022, though not back to levels before the global economy restarted after COVID lockdowns.

The Conversation

High gas prices lead to climate rollback

Industry lobbyists' well-funded referendum could sway voters with misinformation

Salon

UK inflation could fall below 2% this year, Citi forecasts

Falling gas prices and CPI decline could boost public finances before 2024 general election

The Guardian - UK

Russian invasion fuels Santos profits as prices surged

Profits for natural gas supplier Santos more than doubled in 2022 as it benefited from rising gas prices and demand caused by the Russian invasion of Ukraine.

AAP

Hit that switch: UK energy suppliers will get competitive again

Suppliers are expected to feel empowered by an easing in prices this year to hunt for customers

The Guardian - UK

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Tribune News Service

Feds using 'enhanced surveillance' to see what's behind the natural gas spike in California

The head of the Federal Energy Regulatory Commission that oversees the interstate transmission of natural gas, electricity and oil on Thursday would not say whether it will launch a formal investigation into soaring natural gas prices in California but did say the agency has assigned staff to examine whether any…

WEKU

Inflation eased again in January – but there's a cautionary sign

Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.

Bangkok Post

Officials mull new power tariff rate

Energy officials may keep the power tariff, which determines electricity bills, unchanged or trim the rate at its next adjustment as gas prices have become less aggressive.

Radio France Internationale

European Union increases growth forecast as eurozone dodges recession

Europe's economy will grow more than previously forecast this year as it avoids a winter recession, with inflation expected to ease and gas prices continue to fall.

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Bangkok Post

Govt to freeze or lower power tariff as gas prices ease

Energy officials may keep the power tariff, which determines electricity bills, unchanged or trim the rate at its next adjustment as gas prices have eased in recent weeks.

Los Angeles Times

Soaring California natural gas prices could bring higher electricity bills this summer

In the wake of skyrocketing gas rates, a utility company executive suggested that hikes in natural gas costs could lead to higher electricity bills this summer.

The Conversation

Why energy companies are making so much profit despite UK windfall taxes

Russia’s invasion of Ukraine last year caused oil and gas prices to surge, triggering a cost of living crisis in many countries, including the UK.

Radio France Internationale

France's TotalEnergies announces record profits of €18bn, higher payout for shareholders

The French fossil fuel exploitation multinational, TotalEnergies, said on Wednesday that high oil and gas prices had bolstered its net profit to a record 18 billion euros in 2022. The company has announced higher dividend payments for shareholders.

Insider UK

BP profits reach £23 billion after spike in oil and gas prices

Oil and gas giant comes in for criticism as it lowers the ambition of its climate change pledges

Evening Standard

FTSE 100 Live: BP profits surge to £23 billion, house prices stable

BP today racked up an annual profit of $27.6 billion (£23 billion), more than double the previous year’s haul after a surge in oil and gas prices.

The Guardian - UK

BP scales back climate goals as profits more than double to £23bn

Energy company faces calls for toughened windfall tax as it reaps rewards from high gas prices

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