#gas-price-gouging

#gas-price-gouging

"About 18 percent of stations are missing at least one type of fuel," the Deputy Minister said on French media RMC/BFMTV.

The CPI data due this month will be the first hard measure of American consumer prices since the Strait of Hormuz became a conflict zone, and every early signal points to a number that will shock people who stopped paying attention to energy transmission mechanisms after 2022.

"Fresh food and perishables are almost like the canary in the coal mine," when energy prices go up, according to Vidya Mani, an associate professor at the University of Virginia's Darden School of Business.

"With the long-term sustainability of our Los Angeles Refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles," Mark Lashier, chairman and CEO of Phillips 66, said at the time of announcing the closure.

Major indices, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, all recorded gains, with the Nasdaq delivering its strongest weekly performance since November.

"California has had, I think, very poor energy policy. They've put a climate agenda ahead of reliable and affordable energy, and the consequences of that are that energy in California - any form of it - is unaffordable."

The war in Iran has created an energy shock in Africa, as the continent relies heavily on oil and gas imports from the Middle East.

A regular gallon of unleaded gas at the station goes for an eye-popping $8.21-leading drivers forced to fill up there speeding away in disgust. This is f-ing crazy. What is this? asked Crystal, of Orange County, whose Toyota RAV4 was running on empty when she pulled in.

Australia's economic insulation is no longer guaranteed by geography, as geopolitical unrest in the Middle East can swiftly impact its economy through international energy markets.

The war has effectively blocked the Strait of Hormuz, the world's most important oil route, since the end of February and cut exports from OPEC+ members Saudi Arabia, the United Arab Emirates (UAE), Kuwait and Iraq.

It may be too late for Trump to negotiate from a position of strength with Iran. The conflict has raised the risk of a worldwide recession.

Oil distributors, retailers and wholesalers have been accused of taking advantage of the crisis in the Middle East to price gouge Irish consumers, farmers and businesses. Home-heating oil prices have now shot up by €500 for 1,000 litres since last week, with petrol and diesel also surging at the pumps.

The United States - we produce more oil than we can consume. We're a net oil exporter," Wright said. This comment misses some important context. Some metrics show the U.S. as a net exporter, but for crude oil - the material that's refined into gasoline - the U.S. is a net importer.