European Gas Prices Freefall as Australian Strike Winds Down
European natural gas prices have declined amid signs that the ongoing labor dispute at Australia’s biggest liquefied natural gas export plant is winding to a close. Benchmark futures fell by 21%, the most since March 2022.
Gas prices have remained volatile throughout August, with traders...
Shell and TotalEnergies Profits Fall Oil, Gas Prices Weaken
Shell and TotalEnergies both reported heavy declines in profits for the second quarter as oil and gas prices continued to weaken following their highs in 2022. Shares in Shell fell by 1.9% on Thursday morning, while TotalEnergies stocks fell by 1%.
Both oil and gas...
U.S. Gasoline Prices Are on the Rise Again
After showing a steady decline for the past three months, gasoline prices in the U.S. are on the rise again. According to data compiled by American Automobile Association (AAA), the national average gas price has increased by 11 cents since the start of the...
European Gas Slumps as Storage Levels Increase
European gas prices fell the most since April, with Dutch front-month futures plummeting by 16%. This news comes as Germany announced that its gas stores had been filled up quicker than expected, with its October target of 85% expected to already be met next...
Germany to Reduce Gas Sales Tax in Effort to Provide Consumer Relief
German Chancellor Olaf Scholz announced on Thursday that Germany will be lowering the sales tax on gas by 7%. The reduction is expected to apply through 2024.
This move comes as the German government seeks to curb the energy costs faced by consumers, particularly as...
U.S. Gasoline Drops Beneath $4 For The First Time Since March
The national average price of fuel in the U.S. dropped to $3.990 a gallon on Thursday, the American Automobile Association reported. This marks the first occasion on which the price of retail gas has dropped below $4 per gallon since March, thus providing drivers...