News about fuel prices

The Producer Price Index rose 1.3% in September, its largest monthly gain since March 2022, and is running at an annual rate of 6.3%, far above the roughly 0.6% economists expected. Wholesale energy prices jumped 10.8% and producer-level gasoline surged 20.3%, while final demand goods rose 2.6%, the largest monthly increase since the series began in 2009. Retail sales rose 0.8% in September, but excluding gasoline they increased just 0.2%. The author argues inflation has not been defeated, pointing to a 3.7% CPI reading and cost pressures spreading through the economy.

ABC and NBC evening newscasts reported ExxonMobil's record $8.4 billion first-quarter 2006 profit, but the article says they omitted how much the government collected in taxes. ABC highlighted that 15% of profits went to dividends and 40% to share buybacks, while ExxonMobil paid about $7 billion in federal income tax, equal to 83% of its profit. NBC said Exxon earned 9.5 cents per dollar of gasoline and oil sold, while the article notes an 18.4 cents per gallon federal gas tax and total taxes averaging 46 cents per gallon, versus the 28 cents Exxon earned on a $3 gallon. The article argues the coverage exaggerated the profits and ignored the tax burden.

Protests in France began in late September as student demonstrations over failing public schools and have grown into a nationwide movement against rising living costs, especially fuel prices. Some marches saw violence and looting; the interior minister said about 1,800 people were arrested, and a retail group estimated about 1,500 businesses were damaged, with losses in the hundreds of millions of euros. The interior ministry put Saturday's turnout at 550,000 people, while the CGT union put it at 800,000. The government plans to deploy 3,000 more substitute teachers, involve students in school decisions and drop a planned rise in some university registration fees, though the interior minister has signaled limits to further concessions.

French President Emmanuel Macron, addressing the nation on Monday after widespread riots and looting, condemned “unbridled violence” and pledged uncompromising legal action against rioters, including the arson of Limoges' town hall and attacks on sites in Lyon, Marseille and Bordeaux. He announced measures to ease the cost of living and fuel prices, which he linked to the Persian Gulf conflict, including a trip to the Gulf states to secure fuel and gas supplies and government coordination with fuel distributors on prices. A crisis unit chaired by Prime Minister Sebastien Lecornu will deliver aid to affected businesses, and a structured dialogue with high school and university students will begin this week. Macron also ordered a review of intelligence failures and stressed that peaceful protesters, who marched against living costs, must not be confused with those committing violence.

President Donald Trump rallied in Dalton, Georgia, on Friday and Highland Heights, Kentucky, on Saturday, repeating familiar lines on topics including his makeup and a spelling joke about 'dumb,' which the author calls nonsensical. Georgia Sen. Jon Ossoff described the speech as 'senile babbling.' The author argues Trump would help Republicans more by staying out of the final weeks of the midterm campaign so candidates can define their own races. The column says Trump dismisses voter concerns about inflation, corruption and the cost of gas and groceries as hoaxes.

A new calculator from the Get the Facts Data Team shows how many gallons a given amount of money buys at the pump, based on the EIA's monthly national average price for regular gasoline. Regular gasoline averaged $4.36 in September, and the gasoline index was up 34.2% year over year. The BLS reported that gasoline rose 9.1% in September, accounting for over half of the month's overall increase, and overall inflation reached 3.7% year over year as the ongoing U.S. war with Iran keeps oil prices elevated.

At a CBS News town hall in Michigan, Vice President JD Vance blamed high gas prices mainly on decisions made under Joe Biden, saying about 20 percent of US refining capacity went offline during that term and that restoring it takes time. He linked current price pressure to Iran's attacks on oil shipping and said he does not think gas prices will come down once the conflict ends. Asked about everyday costs and the economy, Vance argued that a bipartisan, multi-generational failure to invest in American workers and manufacturing caused the problems, and that fixing them will take more than 18 months. Host Tony Dokoupil noted it has been almost 2 years and asked how long the temporary period Vance had earlier described would last.

The US Treasury cited Treasury Secretary Scott Bessent's view that the current price surge is an energy shock tied to the Iran conflict and that prices will fall after the conflict ends. The Bureau of Labor Statistics reported consumer prices rose 0.6% in September and 3.7% over 12 months, with energy up 20.4% and gasoline up 34.2% from a year earlier, while grocery prices fell 0.1% for the month. Core CPI rose 2.6% over the year, up from 2.4% in August, and rent rose 2.8%, so the article notes the data do not support claims that core inflation or rents are falling. Brent crude settled at $109.86 a barrel on October 16, and freight costs for one planned US-to-Japan tanker voyage equaled $40.50 per barrel. Agricultural commodity prices rose 13% in the third quarter, and the International Fund for Agricultural Development warned that disrupted fertilizer and transport could push food prices higher.

State-run oil marketing companies (OMCs) have excluded ethanol made from sugarcane juice, sugar syrup and B-heavy molasses from their tender for the 2026-27 supply year, seeking to preserve domestic sugar supplies amid poor rainfall in Maharashtra and Karnataka. The tender, issued by BPCL on October 16, seeks about 11 billion litres of ethanol for November 2026 to October 2027 to support 20% ethanol blending in petrol. The procurement price for maize-based ethanol has been lowered to 68.86 rupees per litre from 71.86, and its incentive cut to 2.79 rupees from 5.79 rupees per litre. The shift is likely to raise the role of grain-based ethanol and C-heavy molasses, but the lower maize incentive could affect producer returns.

Labour leaders and pro-democracy activists, including the NLC and lawyer Femi Falana, urged Nigerians to unite against rising petrol prices, accusing the government of impoverishing workers while enriching a privileged few. The NLC said a bag of rice has risen from about ₦30,000 to over ₦80,000 and a loaf of bread from about ₦500 to ₦1,500, while the ₦70,000 minimum wage set in July 2024 is now a “cruel joke”. When that wage was set, petrol sold for about ₦668.30 per litre, but it now exceeds ₦1,400 per litre in many areas. The NLC issued a two-week ultimatum on October 9 demanding an immediate cut in petrol prices, and also called for steps to stabilise the naira, reduce inflation and strengthen domestic refining.

Gas prices have risen sharply since the U.S. war with Iran began in February, with the EIA's average regular gasoline price at $4.36 in September. The Get the Facts Data Team built a calculator that shows how many gallons a given amount of money buys at the pump, based on each month's national average price. The BLS reported that the gasoline index rose 34.2% year over year in September, and a 9.1% monthly jump in gasoline accounted for over half of the overall monthly increase in prices. Overall inflation worsened to 3.7% year over year as oil prices stay elevated amid the ongoing conflict.

Campaign group FairFuelUK says more than 30,000 motorists, families, small businesses, tradespeople, farmers and hauliers have emailed the Prime Minister and Chancellor within 24 hours, ahead of the Budget on 28 October. The group is calling for an immediate cut and permanent freeze to Fuel Duty, plus a PumpWatch regulator with legal powers to investigate pump prices, and asks ministers to consider measures used in more than 40 countries. It also wants to meet founder Howard Cox to discuss his 20-year transport strategy, developed with input from more than 80,000 drivers. Cox argues cheaper fuel would lower business costs and inflation, while respondents, including a rural pensioner and a self-employed driving instructor, describe high fuel costs and limited public transport as a serious burden.

A new NBC News Decision Desk Poll powered by SurveyMonkey finds 71% of U.S. adults think the country is on the 'wrong track', the highest level of Donald Trump's second term. Trump's approval has slipped to 34% among adults, with 66% disapproving and 51% strongly disapproving, a second-term high. Economic worries dominate, with 44% saying their financial situation is worse than a year ago and 67% calling gas prices a serious problem. Democrats also face negative ratings, with 57% viewing the party unfavorably, while 63% view the Republican Party unfavorably. Only 14% of adults expect to receive the $5,000 payment Trump has promised if Republicans keep control of Congress, while 71% do not expect it.

Consumer prices in the U.S. rose again in September 2026: CPI climbed to 3.7% year-over-year from 3.4% in August, mainly driven by a 9.1% jump in gasoline prices in a single month. Core inflation also edged up from 2.4% to 2.6%. Wholesale diesel prices soared 21% in one month, and the average retail diesel price hit $6.32 per gallon by mid-October, nearly double the $3.66 a year earlier, according to AAA; experts warn that transport costs will feed into the prices of other goods. Retail sales still rose 0.8% in September, but excluding gasoline they rose only 0.2%. The labor market is showing signs of weakening: the economy added just 29,000 jobs in September versus 90,000 expected, unemployment rose to 4.2%, and inflation-adjusted weekly paychecks fell year-over-year for the first time since May. The Fed raised rates to 3.75%-4.00% in September, its first hike since 2023, and 16 of 18 officials are considering at least one more hike, while the 30-year mortgage rate reached 7.46% by mid-October.

The average U.S. price of regular gasoline was $4.36 in September, according to the Energy Information Administration, after rising sharply since the U.S. war with Iran began in February. The Bureau of Labor Statistics said the gasoline index was up 34.2% year over year, and its 9.1% monthly surge accounted for over half of the overall monthly increase, with headline inflation at 3.7%. The Get the Facts Data Team's new calculator lets users enter typical pump spending to see how many gallons it would have bought at the EIA's monthly average price.

Gasoline prices have risen sharply since the US war with Iran began in February, with the average price of regular gasoline at $4.36 in September, according to the U.S. Energy Information Administration. A new calculator from the Get the Facts Data Team shows how many gallons a user's money buys at each month's average price. The Bureau of Labor Statistics reported that the gasoline index was up 34.2% year over year in September, and a 9.1% monthly surge in the index accounted for over half of the overall monthly increase. Overall inflation rose to 3.7% year over year as oil prices stayed elevated.

The share of the roughly 175 CPI categories rising faster than a 3% annual pace over the past six months fell to about 38%, down from 56% in May and the fewest since spring 2025, according to Yahoo Finance calculations from BLS data. Electricity, rent, hospital services and car repairs are still rising faster than that pace, and gasoline is up about 34% from a year ago. Groceries rose less than 2% over the past year but remain nearly a third above December 2019 levels, while electricity is up 43% over the same period. Markets priced the chance of a hike at the Oct. 27-28 meeting at about 17%, down from roughly 33% after the CPI report. The article says a six-month count below 40% would strengthen the case for waiting, and that rent and electricity are the key categories to watch.

FairFuelUK says more than 30,000 people emailed Prime Minister Andy Burnham and Chancellor John Healey within 24 hours, urging urgent action on fuel costs before the Budget on October 28 as petrol and diesel prices rise amid conflict in the Middle East. Many respondents, including a pensioner in rural Wales and a self-employed driving instructor, say they rely entirely on cars for hospital visits, shopping and work because bus services are unreliable or absent. Demands include cutting Fuel Duty, a permanent freeze, a PumpWatch regulator with legal powers over excessive pricing, and recognising affordable mobility as a driver of growth. Founder Howard Cox argues that cheaper fuel would lower costs and inflation, and supporters ask to meet him to discuss a 20-Year Transport Strategy developed with input from more than 80,000 drivers and stakeholders.

Gas prices have sharply risen since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 in September, according to the EIA. The Get the Facts Data Team's new calculator shows how many gallons a given amount of spending buys at the pump, based on EIA's monthly national average prices. The BLS reported that the gasoline index rose 34.2% year over year in September, and its 9.1% surge accounted for over half of the monthly increase in all items. Overall inflation worsened to 3.7% year over year as the ongoing war keeps oil prices elevated.

Prime Minister Lê Minh Hưng said the government will amend the fuel business decree and restructure the electricity sector to cut intermediary layers and lower input costs for the economy. The draft fuel decree would reduce trader categories to four, and the number of wholesalers is expected to fall to 14-15 under stricter rules, such as owning at least 40 retail stores and storage capacity of at least 15,000 m3. The PM said nine-month inflation was held at 4.52%, but world fuel prices rose 65% to nearly 90%, and without tax adjustments domestic fuel prices could rise 60-80%. Vietnam's fuel prices are low compared with regional peers, and the budget faces a major revenue shortfall, though the government still implements these measures to share the burden with the economy and consumers. The EVN restructuring plan is being submitted to the government, and land and property prices may fall once the amended Land Law is passed.

Prime Minister Lê Minh Hưng said the government will cut intermediary stages in fuel distribution, electricity and healthcare to lower input costs for the economy. The draft new fuel-business decree would reduce the main trader types to 4 and tighten conditions for wholesale traders, with their number expected to fall to 14-15. In healthcare, the government will amend the Law on Medical Examination and Treatment and the Pharmacy Law to remove intermediaries, as medical equipment and drugs have been marked up through overseas intermediary transactions. According to the government's report, inflation was held at 4.52% after 9 months, but world oil prices rising 65% to nearly 90% could push domestic fuel prices up 60-80% without tax adjustments.

Prime Minister Lê Minh Hưng said intermediary stages in healthcare, electricity and petroleum distribution will be cut so people do not pay high prices. Under a draft decree on petroleum trading, the number of key petroleum traders is expected to fall to 14-15, with requirements of at least 40 retail stores and storage capacity of at least 15,000 m3. In healthcare, the government will propose amending the Law on Medical Examination and Treatment and the Pharmaceutical Law to cut intermediaries in drug and medical equipment distribution. Inflation was held at 4.52% over nine months, but he said keeping it there will be hard without responsive management, as world fuel prices have risen between 65% and nearly 90%.

Gas prices have risen sharply since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 per gallon in September according to the U.S. Energy Information Administration. The article introduces a calculator that shows how many gallons a set amount of money buys at each month's national average price, allowing comparisons with earlier periods. It notes that the gasoline index was up 34.2% year over year in September according to the Bureau of Labor Statistics, and that overall inflation rose to 3.7%.