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.
easyJet shares rose over 12% after US firm Castlelake confirmed early-stage consideration of a takeover bid. The airline's board will evaluate any proposal, prioritizing shareholder value and considering current market conditions and execution challenges.
UAE petrol prices have risen for the fourth consecutive month in June 2026, with Super 98 up 60% since February. The increases reflect global energy market volatility driven by Middle East conflict and shipping disruptions, despite a drop in diesel prices.
Air India reduces domestic flights by up to 22% and IndiGo by 5-7% from June to August 2026 due to high ATF prices impacting operations.
Pune's civic body has banned public gatherings for 14 days from May 26 to curb rising fuel expenses. The Pune Municipal Corporation is also implementing fuel-saving measures for municipal vehicles, urging officials to use public transport and carpooling.
