Gasoline prices in the U.S. fell below $4 per gallon on Thursday, reaching an average of $3.99, the first time since March 30. This decline follows a 28-day streak of falling prices, attributed to an expected increase in oil exports through the Strait of Hormuz after President Trump signed a deal with Iran.
Ukrainian drone strikes on Russian oil refineries have led to fuel supply disruptions in over 10 regions, with Crimea experiencing a "logistical lockdown." While not a full-scale crisis, shortages are increasing, prices are rising, and experts warn of escalating problems if damaged refineries cannot resume operations.
A tentative deal to end the Iran war offers hope for lower prices on gas, groceries, and airfare. However, economists and analysts warn that significant relief will take time due to supply chain disruptions and delayed effects on fuel and commodity costs.
A tentative deal to end the Iran war offers hope for lower prices on gasoline, groceries, and airline tickets. However, experts caution that it could take weeks or months for consumers to see relief due to supply chain disruptions and advance purchasing by businesses.
India is expanding its tax exemption to gasoline containing 22% to 30% ethanol, aiming to reduce its heavy reliance on imported crude oil amid ongoing Middle East conflicts and disruptions to key shipping routes like the Strait of Hormuz. This move supports the government's strategy to enhance energy security, promote cleaner energy, and boost farmer incomes.
US inflation reached its highest level in over three years in May, with a 4.2% annual increase driven by soaring gasoline prices due to the U.S. war with Iran. This surge outpaces wage growth, reducing workers' real spending power and making Federal Reserve interest rate cuts less likely.
Brazil's Minister of Mines and Energy, Alexandre Silveira, announced a proposal to increase the blend of anhydrous ethanol in gasoline from 30% to 32%. The move aims to boost energy security, promote decarbonization, and reduce import dependency, aligning with the "Fuel of the Future" law.
China's government will cut gasoline and diesel prices by approximately 110,000 won per ton starting May 5th, citing fluctuations in international oil prices amid Middle East tensions. This marks the second price reduction this year, following eight increases.
Vietnam's Ministry of Industry and Trade and Ministry of Finance announced price adjustments for gasoline and oil, with E5 RON 92 decreasing by 1,470 VND per liter. E10 gasoline, replacing RON 95-III, will be sold nationwide from June 1st.
China will cut gasoline and diesel prices by 525 and 505 yuan per ton respectively starting June 4th, marking the second price decrease this year. This adjustment follows a period of fluctuating international crude oil prices.
China will cut gasoline and diesel prices by 525 yuan and 505 yuan per ton respectively, effective from midnight on June 4, as international crude oil prices have recently rebounded after a period of decline. The National Development and Reform Commission announced the adjustment.
China will cut gasoline and diesel prices by 525 yuan and 505 yuan per ton respectively, effective from midnight on June 4. This decision follows a recent rebound in international crude oil prices after a period of decline, with the average price over the last 10 working days being lower than the previous adjustment period.
Prime Minister Fumio Kishida indicated a potential reduction in government subsidies aimed at capping gasoline prices around 170 yen per liter, stating that the government will "flexibly consider the form, including the unit price."
US crude oil inventories fell by 8 million barrels last week, while gasoline and distillate stockpiles increased, according to the US Energy Information Administration. Iraq plans to triple crude exports via pipeline to Turkey, and the EU will set energy efficiency standards for data centers.
Vietnam is accelerating the nationwide distribution of E10 biofuel, aiming for fair consumer prices, reduced emissions, and energy security. Authorities are addressing public concerns about vehicle compatibility and ensuring clear communication.
Ukraine's chief of staff stated ending the war by winter is realistic, while Kyiv faced heavy Russian attacks. France detained a Russian oil tanker, and dozens of countries denounced Russia at the UN over a drone incident in Romania.
A reported US-Iran deal framework could ease oil prices and inflation, boosting Bitcoin. However, the rally is conditional on physical energy data, inflation readings, and Fed policy confirmation, not just geopolitical optimism.
High gas prices, exacerbated by US involvement in a conflict with Iran, are impacting truck drivers and the broader economy. Analysts predict prices will remain elevated, affecting upcoming US midterm elections and voter sentiment towards the Trump administration.
High gas prices, exacerbated by US actions against Iran, are straining truckers and impacting voter sentiment ahead of US midterm elections. Drivers face significant increases in fuel costs, affecting their livelihoods and potentially influencing election outcomes.
US gasoline prices have reached a four-year high of $4.55 per gallon, impacting drivers and household budgets. While some consider electric vehicles, sales remain mixed due to tax credit changes and market fluctuations. Alternatives like e-bikes and public transit are also being explored.
US drivers face gasoline prices near four-year highs, with potential to reach $5/gallon this summer if the Strait of Hormuz remains closed due to the war with Iran. Experts predict prices may not normalize until 2027.
Subaru has updated the Forester in Japan, introducing new entry-level gasoline models, Touring and Touring EX, priced at 3.85 million and 3.99 million yen respectively. The update also enhances the hybrid models with an AC100V/1500W socket and improves the digital rearview mirror and wireless charging.
An inmate convicted of murder by setting another man on fire with gasoline and a match was executed in Arizona on May 20, 2026. The execution took place in Florence, Arizona.
Japan's Ministry of Economy, Trade and Industry announced on the 20th that the gasoline subsidy will be set at 41.8 yen per liter for the week starting the 21st. This high subsidy level aims to maintain the national average gasoline price around 170 yen per liter amid high crude oil prices. The subsidy amount will be reduced by 0.8 yen from the previous week.
