71 resultsfor “What are oil companies doing about rising gas prices”
company should make its intentions clear for the sake of its customers and employees.” Anita Mendiratta, special adviser to the UN Tourism secretary-general, noted that while war and geopolitical instability may not have caused
rising cost of fuel. In recent weeks, visitors to Walmart's gas stations have begun to fill up with fewer than ten gallons for the first time since 2022, Chief Financial Officer John David Rainey
company Maersk has said the reopening of the strait of Hormuz would have a “limited impact” on cargo flows, as the industry grapples with a sharp rise in energy costs. Vincent Clerc, chief executive
oil prices soaring since the conflict began. Earlier this month, government officials drew up [a worst case scenario](https://www.bbc.co.uk/news/articles/cpvxp4xnrwdo) of food shortages, including chicken and pork, by the summer if the war continues
companies are suddenly facing hundreds of millions of dollars in additional expenses. "Consumers are very price sensitive. So airlines can't just pass that entire …increase in fuel costs through increased ticket prices," he tells
oil and gas prices soaring, caused a [crisis in the global fertiliser industry](https://www.theguardian.com/world/2026/apr/03/visual-guide-gulf-fertiliser-blockade), and has made shipping and distribution more expensive. The effects have so far been felt most acutely in sectors
companies are reacting to the impact of the Iran war. The Office for National Statistics (ONS) said the rate of unemployment was up in the three months to March, from 4.9% in February, a rate
rising gas prices – [and inflation](https://www.theguardian.com/business/2026/may/12/us-inflation-april-iran-war) – and Donald Trump is facing a historic backlash in [the polls.](https://www.usatoday.com/story/news/politics/2026/05/17/americans-economy-trump-poll/90133566007/) The president [promised recently](https://www.usatoday.com/story/news/politics/2026/05/05/trump-gas-prices-substantial-drop-iran-war/89943271007/) that relief will be swift once
rise in productivity. The broader US economy has continued to expand at an annualised rate of around 2%. Energy markets offer another explanation. The war in the Middle East has pushed oil prices higher
company, was hit in the Strait of Hormuz. The UAE called the attacks a "dangerous escalation". Iranian state TV has quoted an unnamed military official as saying that Iran had "no plans to target
gas prices are climbing and inflation fears are back. But the bigger risk is ‘demand destruction’. “Demand destruction happens when high prices force people and businesses to buy less. We’re seeing it already
company Kpler suggesting Iran could run out of crude storage in 12 to 22 days if the blockade persists. Last week, United States Treasury Secretary Scott Bessent claimed that storage capacity at Kharg Island, where
rise in fuel prices would put extra strain on working-class people. “For common people like us, even one rupee has great value. People work so hard from morning till evening just to make ends
oil industry. That rise in cost contributed, among other factors, to the [collapse](https://www.theguardian.com/business/2026/may/01/spirit-airlines-stops-operation-after-failed-deal) of low-budget carrier Spirit Airlines. “I wanted to lean into America’s 250th birthday,” Duffy said
gas prices soaring, will cause the biggest economic hit since the Covid pandemic, according to the EY Item Club, an economic forecast group. A separate report by Deloitte found finance bosses at big UK businesses
gas flows. “UK airlines typically buy fuel months in advance, and aviation fuel suppliers hold bunkered stocks. The UK imports jet fuel supplies from a range of countries not reliant on the strait, including
gas passes. The meeting comes against a backdrop of mounting tensions between Tehran and Washington over the strategic waterway. Iran moved to restrict shipping through the Strait of Hormuz after the war began, while
gas, fertilisers and maritime traffic in general has left several countries reeling under a rising cost of living.  Saudi Crown Prince Mohammed