71 resultsfor “What are oil companies doing about rising gas prices”
Gas prices keep rising, but do big oil companies plan to drill more? Not so far  The recent market disruptions have been good for the U.S. LNG business, says Ira Joseph, international natural gas expert at Columbia University. He notes that
companies behind them if those funds are reinvested in oil and gas. US Department of the Interior officials [framed the canceled agreements](https://www.doi.gov/pressreleases/interior-announces-two-historic-agreements-promote-affordable-reliable-energy) as a way to “promote US energy security and affordability
gas from the US. Seeking to mitigate the rising oil prices, the Mexican government renewed its voluntary agreement with retailers and reduced the fuel tax. However, Pasillas warned that these subsidies would reduce tax revenue
gas companies benefiting. The main beneficiaries have been European oil giants, who have trading arms so have been able to gain from sharp price movements boosting profits. [BP's profits more than doubled
gas prices have cooled in recent weeks, the wartime surcharge is still adding more than $360 million a day in higher gasoline costs. Similarly, diesel fuel prices jumped from $3.76 a gallon
gas station in Albuquerque, N.M., in July 2016. The cost of group III base oil, used in motor oil blends, has risen 175% since the start of the war with Iran, according to a trade
rise if the US blockade escalates the conflict and affects other shipments from the Gulf, Daiyan added. Some companies expect higher oil prices to boost their business. On Tuesday, oil giant BP said it expected
rise under the previous assumptions. Ofgem previously changed its consumption estimates in 2019 and 2023. Ofgem also controls standing charges, which are a fixed daily fee to cover the costs of connecting households to gas
rise. Suspending the tax requires congressional action. Republican lawmakers immediately said they would introduce bills to suspend the tax. Josh Hawley, a Republican senator from Missouri, said on X that he was introducing legislation
rise and markets fall after US ship seizure hits Iran peace deal hopes Oil prices rose sharply and European stock markets fell on Monday, after the US seizure of an Iranian vessel hit hopes
price of $66. The crisis has prompted governments to tap into [strategic oil and gas reserves](/news/2026/3/23/which-countries-have-strategic-oil-reserves-and-how-much), and the United Kingdom has begun talks with a [coalition of more than 40 countries](/news/2026/4/2/can-starmers-40-nation-coalition-open-the-strait-of-hormuz) – not including
oil. There aren’t very many alternative sources of nitrogen, for the production of fertiliser.” The strait’s closure has cut off flows of liquefied natural gas, an important input for nitrogen-based fertilisers such