Tag: oil prices

IATA protests against CPC’s high jet fuel prices | Sunday Times

IATA protests against CPC’s high jet fuel prices | Sunday Times

The International Air Transport Association (IATA) this week criticised CEYPETCO’s opaque pricing for jet fuel and called for a transparent formula, warning that the soaring cost of refuelling in Sri Lanka was stifling the aviation industry. A team from the union of global airlines visited Sri Lanka and sounded caution to officials, including those of […]

CAG raps PowerGrid for inadequacies in pricing methodology in telecom biz | Times of India

CAG raps PowerGrid for inadequacies in pricing methodology in telecom biz | Times of India

The CAG observed, “There were inadequacies in the pricing methodology followed by the Company. The multiplication factor adopted to scale up tariff for higher capacities was low, which adversely impacted revenue. Pricing of Indefeasible Right to Use (IRU) contracts was inconsistent with different methods applied for different contracts, leading to lower revenue for the business.” […]

Tories scrap cap-and-trade plan in order to reduce gas prices | The Star

Tories scrap cap-and-trade plan in order to reduce gas prices | The Star

Cap and trade will soon be scrapped and paid. The Progressive Conservative government tabled legislation Wednesday to scrap Ontario’s market-driven environmental alliance with Quebec and California. And the province expects to be paying out $5 million in compensation as it leaves the joint carbon-pricing auction — a sum critics warn is unrealistically low. Environment Minister […]

Trump has access to a little-used tool that could lower oil prices | Markets Insider

Trump has access to a little-used tool that could lower oil prices | Markets Insider

“REDUCE PRICING NOW!” That was President Donald Trump’s message to OPEC last week, adding that “gas prices are up & they are doing little to help.” It was just the latest in a string of tweets taking aim at the oil cartel about energy costs. And ahead of the midterm election, where rising gas prices could hurt […]

Haiti suspends fuel price hike after protesters riot | Baltimore Sun

Haiti suspends fuel price hike after protesters riot | Baltimore Sun

The Haitian government suspended a fuel price hike Saturday after widespread violence broke out across the capital and in the northern city of Cap-Haitien. Prime Minister Jack Guy Lafontant had originally said the country needed to raise prices to balance the budget and gave no indication he would back down. But his administration bowed to […]

Saudi plans first change in Asia crude oil price formula in decades, to use DME Oman | Reuters

Saudi plans first change in Asia crude oil price formula in decades, to use DME Oman | Reuters

SINGAPORE (Reuters) – Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October, marking the first change in benchmarks for its official selling prices (OSP) since the mid-1980s, the company said on Wednesday. Trade sources had earlier told Reuters of the planned change. The new […]

Sebi proposes ways for more transparency in spot price polling mechanism | The Economic Times

Sebi proposes ways for more transparency in spot price polling mechanism | The Economic Times

NEW DELHI: To improve transparency and credibility to the spot price polling mechanism in commodities, Sebi has proposed to make it compulsory for exchanges to accredit an independent polling agency and bring such agency under its purview. The capital markets regulator has come out with a consultation paper on ways to enhance efficiency in the […]

Iran sanctions could soon push oil prices above $90 a barrel, BoAML says | CNBC

Iran sanctions could soon push oil prices above $90 a barrel, BoAML says | CNBC

President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday. Crude futures were seen hovering close to multi-year highs during early afternoon deals, after a bigger-than-expected drop in U.S. stockpiles added to a rally fueled by a major Canadian […]

Uber cab service increases fares in Egypt after recent fuel price hikes | Xinhua Net

Uber cab service increases fares in Egypt after recent fuel price hikes | Xinhua Net

CAIRO, June 18 (Xinhua) — Peer-to-peer ride hailing company Uber increased Monday its fare prices in Egypt to compensate for the recent hike in local fuel prices. “With events like the most recent fuel price increase a slight adjustment to our prices was made to ensure that your drivers continue to make a sustainable living […]

Uber is experimenting with letting riders wait longer for a cheaper fare | Quartz

Uber is experimenting with letting riders wait longer for a cheaper fare | Quartz

Good things come to those who wait for their Uber. The ride-hailing company has started testing a feature that gives riders the option to trade a shorter wait for a cheaper fare. “Prices are lower at 17:00,” Uber recently advised an Uber employee who requested a ride in Berkeley, California, and tweeted a screenshot of […]