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EU power prices soar to new highs

Electricity prices in the EU’s day-ahead spot markets have surged to new highs on Friday amid rising energy demand and lower gas flows from Russia. According to European Power Exchange data, day-ahead electricity prices in France, Belgium and Germany showed the largest growth. Prices in Europe’s largest economy, Germany, rose …

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EU warned of years of high gas prices ahead

Gas prices in the EU will remain high for several more years, Russia’s vice-premier and former energy minister, Aleksander Novak said on Friday, warning of serious problems across Europe when the autumn-winter period starts. Speaking at the St. Petersburg International Economic Forum, he said that the bloc needs to pump another …

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UK food prices could spike at 15% this summer

Food price inflation in the UK is expected to peak at up to 15% this summer, according to the latest report released by a grocery research body. It warned that the record-high prices would linger on for another year. In its latest report, the Institute of Grocery Distribution (IGD) said …

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European gas prices spike as anti-Russia sanctions affect flow

Prices for natural gas in Europe surged on Wednesday after Russian energy giant Gazprom announced plans for further cuts to supply volumes via the Nord Stream pipeline. Futures on the Netherlands-based TTF trading hub climbed over $1,300 per 1,000 cubic meters, marking a surge of nearly 25%. Earlier this week, …

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US gasoline prices hit all-time high

US gasoline prices set a new all-time high on Tuesday, with the national average price for regular unleaded gas rising to $5.016 per gallon, data from the American Automobile Association (AAA), which tracks prices at more than 60,000 gas stations across the country, shows. The highest prices have traditionally been …

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UK fuel prices hit new high

Fuel prices in the UK have risen to new highs, according to data tracked by the roadside assistance company the RAC. The average price of diesel has jumped to a record 190.92 pence per liter, while gasoline has reached 185.04 pence.RAC calculations show that filling up a 55-liter family car …

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US farmers struggle amid high fuel prices

Soaring fuel prices in the US have added thousands of dollars to farmers’ costs this year, according to Ty Higgins, a spokesman for the Ohio Department of Agriculture. He told Russia’s RIA Novosti news agency this week that record-high diesel prices have resulted in the cost of sowing crops to double. …

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US fuel prices surge past record mark

US gasoline prices averaged more than $5 per gallon on Saturday, setting a new all-time high, data from the American Automobile Association (AAA) shows. According to the non-profit AAA, which tracks prices at more than 60,000 gas stations across the country, the national average price for regular unleaded gas rose …

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