Energy prices are a key driver of inflation that is rising worldwide and making the cost of living more expensive.
that is rising worldwide and making the cost of living more expensive.
"That should have been our income already. Now there’s nothing, or whatever is left," he said. His income has fallen about 40% due to the fuel price hikes. There's a global oil price — around $110 a barrel — but no global pump price due to taxes and other factors. In Hong Kong and Norway, you can pay more than $10 per gallon. In Germany, it can be around $7.50 per gallon, and in France, about $8. While lower fuel taxes mean the U.S. average for a gallon of gas is somewhat cheaper at $5, it's still the first time the price has been that high.
Pump prices can be political dynamite. U.S. President Joe Biden has pushed for Saudi Arabia to pump more oil to help bring down gas prices, deciding to travel to the kingdom next month after the Saudi-led OPEC+ alliance decided to boost production. The U.S. and other countries also have released oil from their strategic reserves, which helps but isn’t decisive.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Russia slashes gas supply to Germany and Italy amid news of Ukraine EU candidacyRussia cut the natural gas supply to Italy and Germany on Friday following the European Commission's recommendation of Ukraine as a candidate for membership in the European Union.
Baca lebih lajut »
Biden’s ‘energy whisperer’ balances climate agenda, rising gas pricesAmos Hochstein, a presidential coordinator at the State Department, is taking on one of the biggest challenges facing the Biden administration: reining in rising energy prices while preserving Biden's climate agenda.
Baca lebih lajut »
Germany to fire up coal stations as Russia squeezes gas supplyGermany must reduce natural gas consumption and increase the burning of coal in order to help fill gas storage facilities for next winter, its economy minister announced as the country moves away from reduced Russian gas supplies.
Baca lebih lajut »
Italian Oil Giant Joins Qatar Gas Project after Russia Cuts SuppliesEni joined Qatar’s $28.75 billion project to expand production in the world’s largest natural gas field after Russia cut supplies to Italy.
Baca lebih lajut »
‘The Situation Is Serious': Germany Plans to Fire Up Coal Plants as Russia Throttles Gas SuppliesGermany says it will compensate for a cut in Russian gas supply by increasing the burning of coal — the most carbon-intensive fossil fuel in terms of emissions.
Baca lebih lajut »
Russia seems to be preparing to mine Bitcoin with flare gasRussia has big plans for crypto mining. State-owned gas company Gazprom Neft will provide flare gas to BitRiver, the largest crypto-mining service supplier in Russia.
Baca lebih lajut »