Tag: oil prices

State sues two more gas stations for Harvey price gouging | Houston Chronicle

State sues two more gas stations for Harvey price gouging | Houston Chronicle

AUSTIN — Big Willy’s and Tejano Mart are two of the latest gas stations Texas is going after for alleged price gouging during Hurricane Harvey. Attorney General Ken Paxton filed suit against the two businesses Monday, saying both charged “excessive” prices for gasoline. Big Willy’s, with locations south of the Dallas-Fort Worth metroplex, allegedly charged […]

Hurricane Harvey price-gouging: Burleson gas station sued | Fort Worth Star-Telegram

Hurricane Harvey price-gouging: Burleson gas station sued | Fort Worth Star-Telegram

Big Willy’s owner Prem Suhalka of Burleson could not be reached for comment Monday night. Suhalka also owns Big Willy’s store in Cleburne, Mineral Wells and Whitney, according to the lawsuit. The price-gouging lawsuit included a picture of a Big Willy’s sign, showing the price of gas to be $4.99 per gallon, as well as […]

WA drivers queue for cheap petrol as residents say it’s a dangerous recipe for disaster | The West Australian

WA drivers queue for cheap petrol as residents say it’s a dangerous recipe for disaster | The West Australian

For bargain hunters it’s a lure that’s nearly impossible to resist — the promise of petrol at the cheapest price for the week. But some Perth residents say the weekly Monday free-for-all for cut-price fuel is a recipe for disaster and potentially even fatal accident on our roads. Local resident Simone says price fluctuations of […]

China plans to destabilize the US Dollar by pricing oil in Yuan | The Camping Canuck

China plans to destabilize the US Dollar by pricing oil in Yuan | The Camping Canuck

The world’s biggest importer of crude oil and other energy related products, China has reportedly decided to undertake a major step to challenge the dominance of the dollar in the global market. The country, as per sources, will begin by introducing a new pricing strategy in the oil sector and hopes that the growing adoption […]

Can oil prices go above $60? U.S. shale output a pivotal factor | USA Today

Can oil prices go above $60? U.S. shale output a pivotal factor | USA Today

Oil prices flirted with $60 per barrel a few weeks ago, but stopped short of that key psychological threshold and quickly retreated. What will it take to break above $60? Brent hit $59.77 per barrel on Sept. 26, but was back to $55 per barrel a few days later. There are many reasons why oil […]

Harvey-related price-gouging complaints filed against 127 gas retailers | Caller-Times

Harvey-related price-gouging complaints filed against 127 gas retailers | Caller-Times

AUSTIN – More than 125 Texas retailers are accused of price-gouging for charging customers nearly $4 or more for a gallon of unleaded gas or diesel after Hurricane Harvey knocked out refinery capacity along the Gulf Coast in late August. Texas Attorney General Ken Paxton said Monday that he gave the retailers the option of resolving the matter […]

China challenging U.S. dollar by pricing oil in yuan | Digital Journal

China challenging U.S. dollar by pricing oil in yuan | Digital Journal

As a result of the U.S. dollar being used to price and trade oil there is a huge demand for U.S. dollars, giving the U.S. great economic and strategic power. China is reported to be setting up a futures market using its own yuan currency and also will introduce an oil benchmark priced in yuan […]

Opinion: Petrol retailers price cycles and price gouging must end | The Courier-Mail

Opinion: Petrol retailers price cycles and price gouging must end | The Courier-Mail

SCREWED again, dammit! Last month I wrote about how we’re all being royally gouged by petrol retailers, seemingly uniformly across groupings of suburbs, engaging in 30¢-plus price cycles lasting up to six weeks. And so it was that petrol stations in my neck of the western suburbs woods, which locals refer bitterly to as the […]

Petro-yuan: China wants to dethrone dollar, RMB-denominated oil contracts | CNBC

Petro-yuan: China wants to dethrone dollar, RMB-denominated oil contracts | CNBC

China is looking to make a major move against the dollar’s global dominance, and it may come as early as this year. The new strategy is to enlist the energy markets’ help: Beijing may introduce a new way to price oil in coming months — but unlike the contracts based on the U.S. dollar that […]

Petrol pricing absurdity in bush must be given short shrift | The Border Mail

Petrol pricing absurdity in bush must be given short shrift | The Border Mail

The simple fact of the matter is that doesn’t seem to matter how much noise is about it – what you fork out in the bush is unjust compared with the situation in the big cities. And arguments put forward about the extra cost of transporting fuel to regional areas carries limited weight. It might explain […]