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The Latest Breaking News from Gas Prices

Treasurer Jim Chalmers says the government is reviewing a number of options to counter rising energy prices as inflationary pressures strain household budgets.

AAP

No ‘knee jerk’ reaction for gas prices

The Albanese government won’t “rule anything out” in addressing the nation’s energy crisis, Labor frontbencher Tony Burke says.

Crikey

Biden not at fault for nation’s high gas prices, Pete Buttigieg says

Don’t blame the White House for pain at the pump, Transportation Secretary Pete Buttigieg said Sunday.

Tribune News Service

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There's not much more any government could or should do, says Resources Minister on gas prices, while eyeing industry trigger

Madeleine King says she is assured the chief executives of Australia's biggest gas producers are doing "everything they can" to get more supply into the domestic market, but the gas trigger remains an option.

ABC News

‘Out of control’ gas prices likely to filter down to Australian consumers, food processor says

Industry advocates push for eastern states to establish gas reserves as soaring energy costs put pressure on companies

The Guardian - AU

Explained: Why Australia’s gas prices are so high

Australia’s energy crunch has turned downright nasty this week as retailers begin to pass on huge spikes in gas and power prices.

The New Daily

Dark side of the boom: energy prices leave few winners — while the rest of us lose

Energy exporters are enjoying windfall profits, while households are getting belted by surging energy prices and stagnant wages. Our options are limited — but there are some available.

Crikey

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Electricity Prices Are Rising And Now We’re Facing Gas Shortages So Gonna Go Live Under My Doona

Wholesale gas prices spiked this week and market operators have warned Australia is facing a gas shortage as we head into winter.

Pedestrian.tv

Australia's gas crisis is worse than you might think. Industries warn thousands could lose their jobs and consumers will pay more

Australian manufacturers facing massive increases in gas prices are warning they could be forced to close. Consumers will also pay more, adding to cost-of-living pressures.

ABC News

'Outrageous': Gas prices reach new record high in California, US

WOODSIDE, California — Gas prices in the Bay Area and California broke records again Wednesday, with some stations hitting $7 a gallon for mid- and premium-grade, exacerbating concerns about inflation and the region’s exceptionally high cost of living.

Tribune News Service

US pump prices hit record as OPEC+ producers gather

The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to send to the world economy as U.S. gas prices hit another record high

The Independent UK

Demand at food banks is way up again. But inflation makes it harder to meet the need

High food and gas prices are squeezing working families, sending some to food pantries for the first time. But providers are struggling with high costs, fewer donations and supply chain woes.

WEKU

Australia faces a 'perfect storm' on gas supply, as minister warns problem will not be solved quickly

Surging gas prices and supply shortfalls have put Australia on the edge of a "serious and challenging situation" that will not be quickly solved, the new Energy Minister warns.

ABC News

Biden likely to visit Saudi Arabia as US gasoline prices spiral, sources say

WASHINGTON — President Joe Biden is likely to visit Saudi Arabia later this month as part of an international trip for NATO and Group of Seven meetings, according to people familiar with the matter, with record high U.S. gas prices weighing on his party’s political prospects.

Tribune News Service

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Crikey

Failure of coal leaves us stuck with gas as a very expensive transition fuel

Unreliable coal-fired power means a greater reliance on gas, even though it’s ridiculously expensive. The economic consequences could be significant.

The Independent UK

As gas prices soar, Biden leans toward visiting Saudi Arabia

President Joe Biden is leaning towards making a visit to Saudi Arabia — a trip that would likely bring him face-to-face with the Saudi crown prince he once shunned as a killer

ABC News

Federal government's 'gas trigger' to keep supplies onshore may not be pulled just to put a lid on high prices

As gas prices rocket upwards, the federal government is fielding questions on whether it would use its "gas trigger" powers to force gas exporters to keep supplies onshore. But high prices alone may not be enough to pull the trigger.

The New Daily

Newly installed federal government faces a tough test on gas prices

Long suffering energy consumers who have seen power prices spike now face rising gas prices from July 1, as shortages cause wholesale prices to spike.

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The Independent UK

Why energy bills are increasing

Squeeze on wholesale gas prices around the world driving up household bills

Newcastle Herald

'Rocketed away': no easy answers on power price spikes, treasurer warns

Treasurer Jim Chalmers says the spike in gas prices has multiple causes and no easy solutions.

The Street

Oil Leaps As EU Agrees Russian Crude Ban; U.S. Gas Prices Hit Fresh Record High

An EU ban covering around 90% of Russian crude exports has oil prices on the march Tuesday, with U.S. gasoline prices quoted at a fresh all-time high.

Axios

Axios midterms dashboard: What matters '22

All politics is local.

The Independent UK

Why energy bills are increasing

Squeeze on wholesale gas prices around the world driving up household bills

The Guardian - UK

Could a cartel of large energy consumers cut oil and gas prices?

Italy’s PM Mario Draghi suggests big consumers club together to limit how much is paid and raises idea of EU gas price cap

The Independent UK

Why energy bills are increasing

Squeeze on wholesale gas prices around the world driving up household bills

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