Global petrol prices news digest

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14-Dec-2018

Germany: Electricity prices in Saarland go up slightly
14-Dec-2018 by www.saarbruecker-zeitung.de
For example, an average family in Bexbach will have to pay 50 euros more for their electricity per year from March, around 20 euros more in Bliestal and around 40 euros in Völklingen. more information

13-Dec-2018

Philippines: Meralco billings seen stable in December 2018
13-Dec-2018 by www.philstar.com
Customers of Manila Electric Co. (Meralco) won’t see an increase in their electricity rates this month as the stronger peso and lower spot market prices may offset higher Malampaya prices. more information
Cheap oil is blocking progress on climate change
13-Dec-2018 by Phys
The relationship between supply and demand, a fundamental economic concept, holds that when the price of something rises, people use less of it. Similarly, when prices fall, they use more. more information
Why consumers think hybrids are boring
13-Dec-2018 by The Globe and Mail
Buyers understand power, but they don’t understand hybrids and electric cars. Automakers are finding a lot of confusion in the marketplace. more information
Trinidad and Tobago: Removed fuel subsidy will mean fluctuating prices
13-Dec-2018 by Trinidad and Tobago Newsday
When the subsidy on super gasoline and diesel is completely removed motorists will have fluctuations in prices at the pump, says Energy Minister Franklin Khan. more information

12-Dec-2018

Taking a closer look at the global implications of French protests
12-Dec-2018 by ABC News
uesday's attack on a Christmas market in France is being investigated as an act of terror, and compounded weeks of civil unrest, with protesters calling for French President Emmanuel Macron to resign. more information
US consumer prices unchanged in November, amid decline in gasoline prices
12-Dec-2018 by CNBC
U.S. consumer prices were unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and healthcare costs. more information
France considers lower electricity tax to stabilise household power prices
12-Dec-2018 by http://www.arabnews.com
French government said that it would prevent state-controlled utility EDF’s regulated power prices from rising this winter more information

11-Dec-2018

Cuba fuel sale restrictions spark rare taxi strike
11-Dec-2018 by Argus
Cuba's efforts to reduce fuel theft and curb a growing black market in gasoline and diesel triggered a rare strike by the island's taxi drivers last week. more information
After Complaints of tariff hikes, Maharashtra electricity regulator sends notice to Adani
11-Dec-2018 by Thewire.in
Adani Electricity had earlier justified higher bills for October and November saying that the city witnesses a change in climate during this period, resulting in a change in electricity consumption patterns. more information
Lopez Obrador says Mexico to build an $8 billion refinery
11-Dec-2018 by Bloomberg
Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said Sunday at an event at the Dos Bocas port in Tabasco, even as the nation´s refining system is operating at its lowest levels in three decades. more information
Incremental demand from Chilly China will support oil prices
11-Dec-2018 by Forbes
Front-month West Texas Intermediate crude oil futures are trading at $51.50 as I write this, as Friday's oil price rally on OPEC+production cuts proved to be short-lived in the face of further sell-offs in global equity markets. more information

10-Dec-2018

Brexit is leading to higher energy prices
10-Dec-2018 by www.eurekalert.org
A hard Brexit could lead to a further average rise of £61 per year in the event of further devaluation of sterling to pound-euro parity. more information
The 5th OPEC and non-OPEC Ministerial Meeting concludes
10-Dec-2018 by OPEC
The 5th OPEC and non-OPEC Ministerial Meeting was held in Vienna, Austria, on Friday, 07 December 2018, under the Co-Chairmanship of OPEC’s President, HE Suhail Mohamed Al Mazrouei, Minister of Energy & Industry of the United Arab Emirates and Head of its Delegation, and HE Alexander Novak, Minister of Energy of the Russian Federation. more information
U.S. crude oil and natural gas proved reserves, year-end 2017
10-Dec-2018 by U.S. Energy Information Administration
Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove producers of crude oil and natural gas in the United States to report new all-time record levels of proved reserves for both fuels in 2017. more information
Brent oil rises after OPEC-led supply cut deal, but outlook remains weak
10-Dec-2018 by Reuters
Brent crude oil prices climbed on Monday after producer club OPEC and some non-affiliated suppliers last Friday agreed a supply cut of 1.2 million barrels per day (bpd) from January. more information
The U.S. just became a net oil exporter for the first time in 75 years
10-Dec-2018 by Bloomberg
America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence." more information

07-Dec-2018

Why Qatar left OPEC
07-Dec-2018 by AlJazeera
Qatar's decision to end its nearly 60-year-old membership in OPEC caught many observers by surprise earlier this week. more information
France: Eiffel Tower, museums to close during new 'Yellow Vest' protests
07-Dec-2018 by France 24
Paris's Eiffel Tower will close on Saturday over fears of fresh violence during nationwide protests against President Emmanuel Macron, as police urged shops and restaurants on the Champs-Elysees to shut their doors too. more information
Is that OPEC cutting the oil supply? No, it's Canada
07-Dec-2018 by Bloomberg
Alberta made an unprecedented move: it will cut oil production next year to bolster prices. The country’s largest oil-producing province is aimed at easing the crisis in the nation’s energy industry. more information
Oil edges higher after Russia indicates larger output cut
07-Dec-2018 by CNBC
Brent oil futures edged higher on Friday after Russia seemed likely to contribute a bigger output cut to an OPEC and non-OPEC deal, but Saudi Arabia voiced pessimism on whether an agreement could be reached as Iran insisted on an exemption. more information

06-Dec-2018

UK: Motorway diesel prices reach record high as petrol prices tumble
06-Dec-2018 by FleetNews
November saw the largest petrol price drop in four years as oil plummeted by 24% to $57 a barrel, reports the RAC. more information
Who really influences the price of oil?
06-Dec-2018 by BBC News
Opec, the Organization of the Petroleum Exporting Countries, has certainly had its share of criticism over many years. more information
France scraps fuel price hikes after weeks of protests, calls for calm
06-Dec-2018 by NDTV
Protests continued, with petrol depots, service stations, and shopping centres among the targets of the "yellow vests" -- so named for the high-visibility road safety jackets they wear. more information

05-Dec-2018

South Africa: Petrol price drop will be short-lived
05-Dec-2018 by IOL
The substantial decrease in fuel prices coming into effect tonight will be short-lived, with economists warning they may increase again in January. more information
Slovakia: Energy prices will go up next year
05-Dec-2018 by spectator.sme.sk
Households living in small apartments with a typical consumption of up to 1,000 kilowatt hours (kWh) will pay as much as €0.70 more. In households with higher consumption (about 2,300 kWh), the average price will increase by about €2 a month. more information
Saudi Oil Minister attacks Macron's move to raise fuel prices
05-Dec-2018 by Bloomberg
Saudi Arabian Energy Minister Khalid Al-Falih attacked France’s attempt to raise taxes on fuel and warned other governments of the risks to making fuel more expensive. more information
French power companies consider legal challenge to price freeze
05-Dec-2018 by Reuters
The proposed freeze on EDF’s regulated tariffs threatens the survival of some of independent power companies. These operators all compete against EDF, which has an 80 percent share of the retail power market. more information

04-Dec-2018

Qatar to leave OPEC as politics finally rupture oil cartel
04-Dec-2018 by Bloomberg
Qatar said it will leave OPEC next month, a rare example of the toxic politics of the Middle East rupturing a group that had held together for decades through war and sanctions. more information
Electricity rates in Israel to rise 6% next month
04-Dec-2018 by en.globes.co.il
Following the rise in fuel prices, Israel's Public Utilities Authority (Electricity) has published that there will be a public hearing on the annual revision of electricity prices. more information
Oil prices rally by 4% as Russia, Saudis signal output curbs
04-Dec-2018 by Market Watch
Oil prices settled with a 4% gain on Monday as optimism ahead of an OPEC meeting grew after Russian President Vladimir Putin said he and Saudi Crown Prince Mohammed Bin Salman agreed to extend output cuts on the sidelines of the weekend G-20 summit. more information
Electricity prices for the population in Kiev the lowest among the capitals of Europe
04-Dec-2018 by Kozweek.com
For residents of Kiev electricity is 3.64 cents per kilowatt hour and the most expensive in Europe electricity – the Danes, at Copenhagen domestic consumers pay 32.16 cents. more information
6 things to know about Canada's oil-price gap, from gluts to the differential
04-Dec-2018 by CBC
The Alberta government has ordered a mandatory cut to crude oil production next year to deal with historically low prices being paid for Canadian oil. more information

03-Dec-2018

Oil prices jump 5 percent on U.S.-China trade war ceasefire
03-Dec-2018 by Reuters
Oil prices soared by around 5 percent on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut. more information
Cheap oil is no longer a huge positive for the US economy
03-Dec-2018 by CNN
Cheap oil used to be a slam-dunk positive for the American economy. Abrupt declines in oil prices would create huge savings for consumers and businesses alike. It was like a massive tax cut -- and one that didn't blow up the federal deficit. But the shale oil boom has since changed that equation. more information
Northern Ireland's electricity prices 'still among lowest in Europe' says utility report
03-Dec-2018 by www.irishnews.com
Domestic customers in the north paid an average 14.6 pence per kilowatt hour for their supply - considerably lower than the Republic of Ireland (20.8p), the EU (17.3p) and the UK as a whole (16.2p). more information
Crude just had its worst month in a decade
03-Dec-2018 by CNBC
Last month was crude oil's worst in a decade, battered by supply concerns and global politics. West Texas Intermediate, or U.S. crude, lost 21 percent in November, tumbling to its lowest level in a year and logging its worst performance since October 2008. more information
Vietnam may increase electricity prices next year
03-Dec-2018 by e.vnexpress.net
The total electricity generated by coal-powered thermal power plants would increased by 116 million kWh, putting pressure on EVN to increase electricity prices. more information
Russia, Saudi Arabia agree to extend OPEC/non-OPEC crude pact
03-Dec-2018 by S&P Global Platts
Russia and Saudi Arabia have agreed to extend the OPEC/non-OPEC market management coalition beyond its expiry at the end of the year, but have not determined whether new output cuts are warranted, Russian President Vladimir Putin said Saturday. more information

30-Nov-2018

French politician says Macron's answer to fuel rallies will enrage protestors
30-Nov-2018 by Sputnik
Nationwide demonstrations in France, named after the high-visibility jackets now required to be carried in any vehicle, broke out on 17 November. more information
Battery system for wind turbines to stabilize electricity prices
30-Nov-2018 by phys.org
So researchers at Aalborg University (AAU) in Denmark are developing a power converter for wind turbines with a built-in battery system that can absorb and emit energy as needed, and thus even out production. more information
Jordan: Gov’t lowers fuel prices, gas cylinders remain unchanged
30-Nov-2018 by The Jordan Times
The government on Thursday decided to lower the prices of gasoline, kerosene, diesel and electricity, while maintaining the price of gas cylinders for December. more information
Latest UAE Fuel Prices: December 2018
30-Nov-2018 by Gulf News
The Ministry of Energy and Industry announced fuel prices for December and the price includes VAT. The per-litre prices are Super 98 at Dh2.25 (down from Dh2.57 in November), E-plus 91 at Dh2.05 (was Dh2.38 in November) and Special 95 at Dh2.15 (down from Dh2.46 in November). more information

29-Nov-2018

Sub-$2 gasoline pops up in 20 U.S. states after oil's drop
29-Nov-2018 by Bloomberg
Sub-$2 gasoline can now be found in at least one gas station in 20 U.S. states, as the effects of the bear market in crude oil trickle down to motorists. more information
Blockchain platform goes live for North Sea crude oil trading
29-Nov-2018 by Reuters
Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. more information
Turkish households consume cheapest electricity, natural gas in Europe
29-Nov-2018 by www.dailysabah.com
The average electricity price for households per 100 kWh stood at 9.04 euros in the first half of this year more information
US WTI crude oil prices fall below $50 per barrel to 14-month low
29-Nov-2018 by ET Now
WTI hit as low as $49.41 per barrel, the lowest point since October last year. Around 1025 GMT and after a slight recovery, WTI stood at $49.83, down 46 cents compared with Wednesday's close more information
How electromobility will lower the price of electricity (in German)
29-Nov-2018 by www.trendsderzukunft.de
Due to the higher electricity demand caused by electric mobility, there will be an increased need for power plants with higher variable costs, the researchers say, which will initially lead to a slight increase in the price of electricity more information

28-Nov-2018

India increases Iran crude oil imports by 36%
28-Nov-2018 by Middle East Monitor
India has increased the volume of crude oil imports from Iran by 36 per cent to reach 2.57 million tonnes in October compared to 1.89 million tonnes imported in the same month last year. more information
Mumbai fumes over 50% spike in electricity bills since Adani Power took over; discom cites tariff re
28-Nov-2018 by www.firstpost.com
In Mumbai, electricity consumption increases in the month of October due to higher ambient temperature. more information
South Africa mulls Singapore as reference for basic fuel price
28-Nov-2018 by Bloomberg
South Africa’s Department of Energy proposed changes to the structure of the nation’s basic fuel price as it seeks to reduce the cost of gasoline and diesel. more information
Romania posts largest electricity price increase for households in the EU during the last year
28-Nov-2018 by Business-review.eu
The largest increase was registered in Romania (+14.1 percent), ahead of Estonia (+11.7 percent), the Netherlands and Croatia (both +9.2 percent). more information

27-Nov-2018

Tajikistan exports 1.5 billion kWh of electricity to Uzbekistan
27-Nov-2018 by www.azernews.az
The cost of each kilowatt should be 2 U.S. cents. more information
France on edge as protests continue over fuel prices
27-Nov-2018 by Newstalk ZB
Protesters in France are continuing to cause disruption as they vent their anger over fuel prices. more information
Kazakhstan: Ministry of Energy to approve decree on cutting electricity and commercial gas prices
27-Nov-2018 by en.egemen.kz
The weighted average electricity cost reduction of current marginal tariffs is 25%. more information
Goldman predicts commodities will soar in 2019
27-Nov-2018 by Bloomberg
Commodity bull Goldman Sachs Group Inc. is undaunted by the sell-off in raw materials and is forecasting returns of about 17 percent in the coming months, describing the current situation as unsustainable and touting this week’s G-20 meeting in Buenos Aires as a potential turning point. more information
What now for France's Yellow Vest protesters?
27-Nov-2018 by RFI
France's Yellow Vest protesters have mounted the most serious challenge yet to President Emmanuel Macron's government. But they seem divided as to what their next move should be. more information

26-Nov-2018

In an electricity meltdown, how do Canberra’s prices compare?
26-Nov-2018 by the-riotact.com
The government in the ACT takes a leading role in setting what the electricity price should be through an independent body. That creates a marker so that retail energy companies have to justify why they’re offering higher prices. more information
China’s oil benchmark fails its first big test
26-Nov-2018 by Bloomberg
Since China established its own oil benchmark in March, the world has been looking for a natural experiment to prove whether it could join the West Texas Intermediate and Brent contracts as a price-setting instrument for global markets. more information
Cambodia’s solar regulation
26-Nov-2018 by www.phnompenhpost.com
The government now allows lower-voltage consumers to develop standalone solar PV systems without asking for permits. Very often the permit procedure becomes a hindrance, making solar PV unattractive for consumers. more information

23-Nov-2018

Petrol price concerns have skyrocketed in New Zealand over past year
23-Nov-2018 by TVNZ
A new survey gauging New Zealanders’ biggest concerns indicates that Kiwis are now more worried about fuel prices than poverty, healthcare and every other issue except for housing. more information
India: Government to raise target for ethanol blending of petrol
23-Nov-2018 by The Economic Times
The government intends to further increase the target level for the Ethanol Blended Petrol (EBP) programme that aims to bring down India’s imports of petroleum products, as also provide cleaner fuel, Prime Minister Narendra Modi said on Thursday. more information
Electric Ireland announce price freeze for winter season following surge in electricity and gas pric
23-Nov-2018 by www.thesun.ie
However, Electric Ireland did add €56 onto the average annual electricity bill earlier this year, with Flogas increasing by €92.56 two days later. more information
Zimbabwe petrol stations run dry due to currency shortages
23-Nov-2018 by Fin24
Some filling stations in Zimbabwe’s capital have run out of gasoline as the country deals with currency shortages, Transport Minister Joram Gumbo said. more information
South Africa could get its biggest-ever petrol price cut in December
23-Nov-2018 by Business Tech
South Africans could be in for some early festive cheer in December in the form of a major petrol price drop. more information
Indonesia: Government to reduce fuel, gas use for electricity
23-Nov-2018 by www.thejakartapost.com
The Energy and Mineral Resources Minster ordered a decrease of the electricity price. more information

22-Nov-2018

Want the cheapest electricity? Build solar and wind farms, not coal power plants
22-Nov-2018 by Forbes
While this is good news for the battle to decarbonize the global economy, the news is not universally good. In Asia-Pacific, new coal-fired power plants are still cheaper than less polluting combined-cycle gas plants as a result of the need to import natural gas. more information
South Africa: Moody's supports Eskom's proposed electricity price hike
22-Nov-2018 by www.enca.com
The ratings agency says a 15 percent tariff increase for the next three years would allow Eskom to address rising operating costs and its sizeable capital expenditure programme. more information

21-Nov-2018

Poland: Poles to receive full compensation for retail electricity price hikes
21-Nov-2018 by www.thefirstnews.com
According to the minister, the government wants to compensate for electricity price hikes which it sees as "unjust" as they do not result from external conditions. more information
USA: Increased Thanksgiving travel expected amid strong economy, falling fuel prices
21-Nov-2018 by S&P Global Platts
Forecasters expect to see increased travel during the US Thanksgiving holiday for motorists and air passengers, citing a strong US economy. more information
Pakistan rejects IMF’s electricity tariff hike demand
21-Nov-2018 by www.thenews.com.pk
Energy minister said the National Electric Power Regulatory Authority (Nepra) proposed Rs3.28/unit increase in power tariff. more information
Iran to cap gasoline sales to curb smuggling
21-Nov-2018 by Radio Farda
Iran is reintroducing fuel cards that will cap petrol purchases in a bid to combat rampant smuggling, state media reported on Tuesday. more information
Will the price of gasoline bring down the Bulgarian government?
21-Nov-2018 by IBNA
Great protests are taking place in Bulgaria due to repeated increases in the price of gasoline and oil. Over the last three weeks there has been an overflow of rage in the country, with anti-government slogans now openly being heard. more information

20-Nov-2018

Russia tightens energy grip on Turkey and Southern Europe
20-Nov-2018 by Bloomberg
Russia is one step closer to tightening its natural-gas grip on Turkey and southern Europe just as the U.S. aims to curb the expansion of Kremlin-backed energy projects. more information
Mexico: Electricity tariffs have soared as much as 500% due to new pricing formula
20-Nov-2018 by Mexiconewsdaily.com
The hike is due to two main factors: costs related to the generation of power and expenses associated with supplying it, which can fluctuate depending on the time of year. more information
U.S. States: state profiles and energy estimates
20-Nov-2018 by EIA
The State Energy Data System (SEDS) is the source of the U.S. Energy Information Administration's (EIA) comprehensive state energy statistics. EIA's goal in maintaining SEDS is to create historical time series of energy production, consumption, prices, and expenditures by state that are defined as consistently as possible over time and across sectors for analysis and forecasting purposes. more information
Oil treads water amid expected OPEC cuts, gloomy economic outlook
20-Nov-2018 by CNBC
Oil markets lost steam on Tuesday, giving back earlier gains, as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries (OPEC). more information
Myamar: Myeik residents lament higher power prices
20-Nov-2018 by www.mmtimes.com
The price of electricity in Myeik is now K50 per kilowatt-hour for the first 100 units and between K60 and K70 for villages outside town despite the agreement stating that the cost of electricity would be K26 per kilowatt-hour for the first 100 units more information

19-Nov-2018

Why Russia matters to the refining sector
19-Nov-2018 by Forbes
Russia is a major energy exporter and a key player in the global energy market. Its importance in the global oil market is such that its collaboration with Saudi Arabia and other OPEC members to stabilize global oil supply has been crucial since 2016. more information
The oil price is now controlled by just three men
19-Nov-2018 by Bloomberg
OPEC has lost what control of the oil market it ever had. The actions (or tweets) of three men — Presidents Donald Trump and Vladimir Putin and Crown Prince Mohammed Bin Salman — will determine the course of oil prices in 2019 and beyond. But of course they each want different things. more information
Canada’s crude crisis is accelerating
19-Nov-2018 by RT
Canadian oil producers are in an increasingly tough predicament. With high and increasing oil demand around the globe over the last year, Canadian oil production has increased accordingly. more information
Germany: At the turn of the year, electricity prices are rising
19-Nov-2018 by www.faz.net
Shortly before the end of the announcement of possible price increases this Tuesday - six weeks before the turn of the year - Verivox registered 218 utilities with price increases in December and January 1st. more information
The tumbling oil price is a warning of turbulent times in the world economy
19-Nov-2018 by The Guardian
In the global ranking of economic events, a 20%-plus drop in the price of the black stuff is a big deal. A barrel of Brent crude cost $86 at the beginning of October. Last week the cost of a barrel fell to just $66 before settling at $67. more information
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