Italy faces soaring fuel prices, with petrol reaching €2.6/litre in Milan. The government considers variable excise duties to mitigate the crisis, while opposition parties demand more substantial measures, citing a projected €10.8 billion spending on fuel for Italians in 2026.
American Airlines lowered its 2026 earnings outlook, citing increased fuel costs that fares aren't fully offsetting, leading to an 8% share drop. The carrier also forecast a wider adjusted loss for the current quarter and revised its 2024 earnings guidance downward.
Budget carrier IndiGo reported a net loss of Rs 238 crore for Q1 FY27, a significant decline from a Rs 2,176 crore profit last year. This loss occurred despite a 20% revenue increase, primarily due to a substantial 86% surge in aircraft fuel expenses.
easyJet reported a 70% slide in Q2 pre-tax profits to £85m, primarily due to a £105m increase in fuel costs from the Middle East conflict and a trend of later customer bookings. The airline's agreed £5.7bn takeover by Apollo Global Management faces potential EU ownership rule scrutiny.
Average petrol prices in the United States have risen to $4 per gallon, driven by escalating tensions between the US and Iran in the Middle East. This increase reverses a period of easing costs and could have wider economic implications, impacting groceries and upcoming US midterm elections.
United Airlines exceeded Q2 earnings estimates but faces significant headwinds from escalating fuel costs, projected to add nearly $6 billion to expenses this year. The carrier revised its Q3 and full-year adjusted earnings forecasts downwards, despite strong demand and rising fares, attributing volatility to geopolitical tensions.
Global markets and oil prices reacted sharply to US President Donald Trump's strong statements against Iran, signaling potential further strikes and the end of a memorandum of understanding. Stock indices fell, while oil prices and energy stocks surged.
All Nippon Airways and Japan Airlines have raised fuel surcharges, with some long-haul flights exceeding $400, despite falling jet fuel prices. The increases are based on older price averages and government aid helped mitigate even higher potential fees.
UK motorists saw the fastest monthly drop in diesel prices in June, falling 17p a litre, according to RAC. Prices have nosedived since the US-Iran conflict ended, with further drops expected by the AA, though still higher than pre-conflict levels.
UK motorists are experiencing lower fuel prices, with further reductions anticipated, following a US-Iran agreement that ended their conflict and eased energy supply disruptions. Prices are at their lowest since early March but remain above pre-conflict levels, while a planned fuel duty increase has been postponed.
US drivers are seeing relief as national average gas prices dropped below $4 a gallon on Thursday, driven by falling oil prices and a tentative peace agreement between the US and Iran. Despite the decrease, prices remain higher than pre-war levels.
Despite falling jet fuel prices to their lowest in over three months, airlines are unlikely to lower ticket prices or fees. Experts cite rising labor and operational costs, and the willingness of travelers to pay higher fares, suggesting price increases will persist.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. Economists had forecast a rise to 3%. The ONS reported the flatlining figure, which follows a decline in April, as various price movements balanced out.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises, according to the ONS. Economists had forecast a rise to 3%, but the flatlining figure defied expectations.
UK inflation remained unexpectedly at 2.8% in May, defying economists' forecasts of a rise to 3%. Higher transport and fuel costs were offset by slower food price rises, according to the ONS.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. The ONS figure defied economists' forecasts of a rise to 3% and comes as the Bank of England prepares to set interest rates.
China plans to reduce terminal hydrogen prices to below 25 yuan/kg by 2030, aiming for 100,000 fuel cell vehicles. Current prices exceed 35 yuan/kg. Key challenges include reducing green electricity costs for hydrogen production and improving storage density. The industry is transitioning towards commercialization.
Airline leaders met in Rio de Janeiro to discuss high fuel costs, declining profits, and engine issues. Global fuel costs have surged, halving airline profits, with net profits expected to drop significantly. Despite resilient travel demand, future winter travel and sustained high costs remain concerns.
US Army officials report budget pressures from unplanned operations like 'Epic Fury' and rising fuel costs, forcing difficult spending decisions. The Navy may need to cut routine operations if additional funding isn't secured by July.
Eurowings CEO Max Kownatzki faces a new crisis shortly after taking office in February, marked by rising fuel prices due to the war in Ukraine and disrupted routes. While Lufthansa's hedging protects 80% of fuel costs, the remaining 20% must be paid at current market rates, likely leading to increased ticket prices for customers.
Pakistan is spending an estimated $900,000 monthly on US lobbying efforts, totaling $10-12 million annually, according to FARA filings. This occurs as the nation faces economic challenges, a water crisis, rising fuel prices, and a heavy debt burden.
Pakistan is spending an estimated $900,000 monthly on US lobbying efforts, totaling $10-12 million annually, according to FARA filings. This occurs as the nation faces economic challenges, a water crisis, rising fuel prices, and a heavy debt burden, while its military leadership claims India sought US mediation during military tensions.
Ethiopia is accelerating its shift to electric vehicles, driven by high fossil fuel import costs and a government ban on gasoline/diesel car imports. The country aims for 500,000 EVs by 2030, leveraging its hydropower resources, though charging infrastructure remains a challenge.
JetBlue has raised its Q2 fuel cost projections due to shipping disruptions in the Strait of Hormuz, causing jet fuel prices to surge. The airline expects expenses to range from $4.26 to $4.36 per gallon, up from previous estimates.
