CNG prices have increased by Re 1 per kg, marking the third hike in less than 10 days, with rates now at Rs 81.09/kg in Delhi and Rs 89.70/kg in Noida/Ghaziabad. Petrol and diesel prices also saw hikes due to rising global crude oil prices.
CNG prices in Delhi increased by Re 1 per kg to Rs 81.09, the third hike in under 10 days. This follows rising petrol and diesel prices, driven by global energy costs linked to the Middle East crisis and Strait of Hormuz disruptions.
Fuel surcharges and price hikes linked to the Middle East conflict are significantly increasing residential construction costs in Sydney, Australia. Builders like Rocco Natoli face substantial extra expenses on materials and deliveries, impacting their profitability and contributing to inflation.
Indian Railways faces increased electricity costs following a Supreme Court ruling. The court declared the national transporter a "consumer" under the Electricity Act, making it liable for cross-subsidy and additional surcharges on open access power. This decision impacts the railways' operating ratio and power procurement expenses, overturning previous exemptions.
Hong Kong flag carrier Cathay Pacific Airways will lower its fuel surcharge fees for passenger flights by as much as about 14 per cent from May 16, after a series of increases that began in March. For long-haul flights, the surcharge will fall from HK$1,560 (US$199) to HK$1,362 per leg of the trip. For shorter journeys, such as those between Hong Kong and South Asia, the rate will drop to HK$633, down from HK$725. For flights from mainland China to Hong Kong, the surcharge will remain at HK$135,...
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra materials costsBusiness live – latest updatesOil prices fall as Trump hails ‘progress’ on Iran dealAirlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April. Continue reading...
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra cost of metals and plasticsBusiness live – latest updatesOil prices fall as Trump hails ‘progress’ on Iran dealAirlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April. Continue reading...
Higher inflation, a war in the Middle East, and a ban on surcharges are crippling small businesses. Now they are falling victim to a modern crime.
Higher inflation, a war in the Middle East, and a ban on surcharges are crippling small businesses. Now they are falling victim to a modern crime.
Travel companies including EasyJet and On The Beach are offering guarantees against flight cancellations and fast refunds to reassure summer holidaymakers, as geopolitical tensions in the Middle East drive up jet fuel costs. EasyJet has pledged to run its full summer schedule with no additional fuel charges, while On The Beach promises same-day refunds for cancelled flights. The moves come as consumers book later amid uncertainty following the US-Israel war on Iran, with some European airlines already cancelling thousands of flights.
Hong Kong's catering sector anticipates a 5% year-on-year business increase during the Labour Day golden week (May 1-5), driven by mainland Chinese visitors' growing interest in hiking and sailing yachts. Industry leaders say the trend is benefiting seafood restaurants in Sai Kung and outlying islands, while Middle East tensions inadvertently helping by pushing travelers toward shorter regional trips.
Tour groups from Hong Kong to mainland China are expected to rise by 30-40 per cent year-on-year over the Labour Day weekend, driven by improved safety and hygiene standards, as well as the novelty of mainland destinations compared to traditional Southeast Asian destinations like Singapore, Malaysia and Thailand. Travel agents report increased interest in Greater Bay Area trips to cities like Foshan, Dongguan and Zhongshan.
Narita International Airport operator forecasts 1.59 million travelers between Friday and May 10, a 2% increase from last year's Golden Week. Sunday saw peak departures at nearly 57,000, while arrivals will likely peak May 6. However, February departures dropped 7.4% year-over-year and 28.8% from 2019, with analysts noting negative outlook for the remainder of the year.
The UAE has announced it will quit Opec and Opec+ from 1 May, marking a pivotal moment for global energy markets. While analysts say the near-term implications are limited due to the Strait of Hormuz blockade preventing oil shipments, the move could allow the UAE to increase production once the conflict ends and push down prices long-term. The UAE has been dissatisfied with Opec quotas it considers unfair constraints on its infrastructure investments.
BP has reported nearly $3.2bn profit in Q1 2026, more than double year-earlier levels, driven by exceptional oil trading and surging energy prices since the Iran war began at the end of February. The oil major's new CEO Meg O'Neill acknowledged the "environment of conflict and complexity". Meanwhile, the UAE announced it is quitting Opec from 1 May, and UK government borrowing costs approached levels last seen during the 2008 financial crisis, with 10-year gilt yields at 5.02%. Chancellor Rachel Reeves pledged to maintain the 38% windfall tax on oil and gas companies.
BP's first-quarter profits nearly doubled to $3.2bn, driven by soaring energy prices due to the Iran war and strong oil trading performance. The company acknowledges the complex geopolitical environment while facing potential disruptions.
HK Electric announced a reduction in fuel clause charges for May to 26 HK cents per kWh, but warned of possible significant rises later due to Middle East conflict disruptions.
HK Electric announces a 4.4 HK cents per kWh reduction in fuel clause charge for May to 26 HK cents, citing January's lower fuel costs. This marks the second consecutive monthly drop, but the company warns that international fuel prices have risen sharply since March due to Middle East geopolitical developments, potentially causing significant cost increases later in 2026.
Airlines have raised airfare, fuel surcharges and baggage fees this year to help cover a surge in fuel costs since the Iran war started on Feb. 28.
