#PETROLPRICES

[usa-journal]

US Inflation Rises Slightly, but Sentiment Improves Amid Political Shift

Amid a slight uptick in US inflation to 2.7% last month, many Americans are reporting greater confidence in their financial stability, bolstered by falling petrol prices and a shifting political landscape.

Petrol prices, now at their lowest in three years, have eased financial strain for households. "I’m filling my tank to the top now," said Josh Kerben, a 36-year-old property manager in New York, reflecting the improved financial outlook for many.

While inflation remains higher than the US Federal Reserve's 2% target, it is far below the peak of June 2022, when the aftermath of Russia's invasion of Ukraine sent fuel prices soaring. However, areas like housing and groceries continue to see price increases, overshadowing broader economic gains for some.

The economic debate played a decisive role in last month’s presidential election, helping Donald Trump secure a return to the White House. His supporters, like Mr. Kerben, are optimistic about the future. "Compared to two months ago, I feel more confident," he said.

Yet, the path forward remains uncertain. November’s inflation rate, up from 2.6% in October, marks the highest since July. Petrol prices rose slightly compared to October, while groceries and other essentials saw notable increases.

This has raised questions about how President Trump will address cost-of-living concerns. Economic strategist Lindsay James noted the challenges ahead, citing higher government spending and potential tariffs as factors that could add inflationary pressures.

The Federal Reserve, which lowered interest rates in September for the first time in four years, is expected to consider further cuts this month. However, analysts warn that rates may remain elevated into next year unless inflation in non-petrol sectors slows significantly.

For Americans like Grier Bowen, a 48-year-old cancer survivor reliant on disability payments, the mixed economic signals are concerning. While lower fuel prices provide some relief, rising costs in other areas continue to strain budgets. "You save in one place, but end up reallocating somewhere else," she said, expressing cautious hope about Trump’s potential impact.

As inflation edges back into focus, the US faces critical decisions on economic policy in the months ahead. Whether recent optimism translates into lasting financial relief remains to be seen.

[usnewsper-business]

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[remitanalyst]

In the dynamic world of currency exchange rates, the CAD to INR pair has experienced notable fluctuations during the first half of May 2023. After years of consistent appreciation, the Canadian dollar has strengthened against the Indian rupee, with the exchange rate reaching 60 INR on April 30, 2023.

However, this value has not remained static. Throughout the month, the CAD to INR exchange rate has exhibited significant volatility, with a peak of 61.37 on May 8, 2023, and a low of 59.56 on May 1, 2023. The trend curve shows a standard deviation of 0.292 rupees, indicating the extent of these fluctuations.

The recent appreciation of the Canadian dollar can be attributed to various factors. One potential cause is the presence of foreign capital imbalances. When there is an influx of foreign investment in a country, it can lead to an increase in demand for its currency, resulting in its appreciation. This influx of foreign capital into Canada might have contributed to the strengthening of the Canadian dollar.

Additionally, the price and demand for petrol have played a role in the CAD to INR exchange rate dynamics. As the price of petrol increases, it can impact the Canadian economy positively, as Canada is a significant exporter of oil. This positive impact can lead to a stronger currency valuation.

It's important to note that exchange rates are influenced by a multitude of complex factors, including economic indicators, geopolitical events, and market sentiment. Understanding and predicting these fluctuations can be challenging, as they are influenced by a wide range of variables.

In summary, the CAD to INR exchange rate has seen fluctuations and appreciation during the first half of May 2023. Factors such as foreign capital imbalances and increases in the price and demand for petrol have likely contributed to this trend. However, it's essential to closely monitor the ever-changing dynamics of the global market to gain a comprehensive understanding of currency exchange rates.

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[todaynewspakistan0]

Big Fuel Price Drop Coming Soon! 🚨

Great news for Pakistani consumers! On September 14, 2024, petrol and diesel prices are expected to drop by Rs. 12 per liter. This major cut is thanks to lower global oil prices and a stable Pakistani rupee.

🔹 Petrol Price: Rs. 247-248 per liter 🔹 Diesel Price: Rs. 250-251 per liter

This reduction will help ease the cost of living and could lead to lower prices for various goods and services. For more information, check out our latest post at

https://todaynewspakistan.com/petrol-and-diesel-prices-in-pakistan-to-drop/

[oilgasenergymagazine]

Oil Prices Dip Amid Israel-Lebanon Ceasefire Deal

Source: energy.economictimes.indiatimes.com

Category: News

  

Global Oil Prices See Decline Post-Ceasefire Agreement

Oil prices experienced a notable dip on Tuesday, reversing earlier gains in a volatile trading session. The downturn followed news of Israel agreeing to a ceasefire deal with Lebanon, which reduced the geopolitical risk premium associated with oil. As tensions eased, market sentiment shifted, causing fluctuations in crude prices.

Brent crude futures, a global benchmark for oil, fell by 54 cents, or 0.74%, to trade at $72.47 per barrel by 1:41 p.m. EST. Similarly, U.S. West Texas Intermediate (WTI) crude futures dropped 49 cents, or 0.71%, to reach $68.45 per barrel. The decline reflected traders’ reassessment of risk factors influencing oil supply and pricing.

Market Reactions to Geopolitical Developments

The ceasefire agreement, endorsed by Israel’s security cabinet, marked a significant development in Middle Eastern geopolitics. Historically, tensions in the region have had a direct impact on global oil markets due to concerns over potential disruptions in supply. With the risk of escalating conflict now minimized, market dynamics shifted, leading to a reduction in oil prices.

Energy analysts noted that while the ceasefire eased immediate fears, oil markets remained sensitive to potential geopolitical uncertainties. “The Middle East continues to be a focal point for energy markets, and any developments in the region can quickly alter price trajectories,” said one industry expert.

Broader Implications for Oil Markets

The price drop highlights the interplay between geopolitical events and energy markets. Oil prices often fluctuate based on perceived risks, such as conflicts in oil-producing regions. The Israel-Lebanon ceasefire reduced immediate concerns over supply disruptions, but broader factors—like global demand trends and economic conditions—continue to influence market behavior.

As trading stabilized, attention turned to other variables, including OPEC’s production policies and the global economic outlook. Analysts predict that while the current decline is linked to easing geopolitical tensions, the oil market’s future direction will depend on a complex mix of supply, demand, and geopolitical factors.

[jayessentialsblog]

Nigeria's petroleum marketers have accused Dangote Refinery of implementing a secret petrol price regime

Dangote Refinery is allegedly running a secret petrol pricing scheme, according to Nigerian petroleum traders. Billy Gillis-Harris, the president of the Petroleum Products Retail Outlets Association of Nigeria (PETROAN), revealed this in an interview with Channels Television. Gillis-Harris pushed Dangote Refinery's management to be transparent, seek feedback from interested parties, and permit marketers to directly raise the price of its petrol, instead of continuing to operate in secrecy about fuel prices. Although NNPCL provided a pricing structure, he pointed out that it concealed Dangote Refinery's contribution to the pricing. Gillis-Harris advised Dangote to communicate openly, engage with stakeholders, and solicit insightful feedback from all parties because the company operates with Nigerians, retail store owners, and a variety of customers. According to him, Dangote Refinery is transparent about the price of its diesel but not its petrol. He can provide you with information regarding their diesel costs, as they were informed about them; but, he is in the dark regarding the PMS. The reason Dangote Refinery hasn't disclosed its petrol pricing, according to economist Emmanuel Kelvin, is because the commodity hasn't been completely deregulated. Read the full article

[newswatchindia]

Rajsthan News: Know why petrol pumps will remain closed for 48 hours in Rajasthan?

All petrol pumps in Rajasthan will remain closed for two days from Sunday, March 8 (petrol pump strike in rajasthan). Petrol pumps will remain closed due to the 'No Purchase No Sale' strike declared by Rajasthan Petrol Dealers Association. This strike will be conducted in protest against the rising prices of fuel in the state.

[shivamautozone]

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[sohanbir]

Crude oil prices down.Petrol,Diesel price..

Petrol Diesel Price Today:-a turn down in the price of crude oil is being recorded, but a boost in the price of petrol-diesel has been recorded in many cities of the country.

Image By-Image by Freepik Petrol n Diesel Rate on 20 July 2023:- Government oil companies in India release Petrol-Diesel Price every day. Talking about today, there has been a vary in the cost of petrol and diesel in many cities on Thursday. all together, a turn down in the price of crude oil is being recorded in the international market today. There is a price down of 0.13% in the cost of Brent Crude Oil and it is trading at $ 79.36/barrel. same time, there is a reduction of 0.16% in the price of WTI Crude Oil and it is trading at $ 75.23 per barrel. In which cities the prices of petrol and diesel changed:- Ajmer - Petrol became costlier by 31 paise at 108.38 paise and diesel by 28 paise at Rs 93.63 a liter Patna - Petrol by 35 paise costlier at Rs 107.59, Diesel by 32 paise at Rs 94.36 a liter Amritsar - Petrol by 27 paise Rs 98.74 costlier, diesel costlier by 25 paise to Rs 89.04 per liter Jaipur - Petrol costlier by 20 paise to Rs 108.41, diesel by 18 paise to Rs 93.65 per liter Gurugram - Petrol costlier by 40 paise to Rs 97.11, diesel by 38 paise to Rs 89.97 per liter Lucknow- Petrol 15 paise cheaper at Rs 96.47, diesel 15 paise cheaper at Rs 89.66 a liter What are the fuel rates in the four metropolitan cities of the country:- New Delhi -Petrol at Rs 96.72 per litre, Diesel at Rs 89.62 per litre is being sold Chennai - Petrol at Rs 102.63 per litre, Diesel at Rs 94.2 4 rupees per liter is being sold. Mumbai -Petrol at Rs 106.31 per litre, Diesel at Rs 94.27 per litre is being sold Kolkata - Petrol at Rs 106.03 per litre, Diesel at Rs 92.76 per litre is being sold Read the full article

[usnewsper-business]

Surprise Drop in UK Prices: What It Means for You #bankofengland #clothingprices #dieselprices #Foodprices #footwearprices #globaloilprices #housingprices #inflationrate #interestratehikes #InterestRates #monetarypolicy #motorfuels #nonalcoholicdrinksprices #petrolprices #UKeconomy #UnitedKingdom #utilitiesprices

[gkingmusik]

IPMAN Denies Plans To Increase Petrol Price To N700 Per Litre Written by Kelechi Ofor

[livemintvideos]

US is now the top destination for refined petroleum products made from refined Russian crude. According to ministry of commerce, US imported more than half a billion dollars worth of oil products made in India. For the better part of last year, western countries led by US continued to put pressure on India to decrease its Russian crude imports. India however refused to budge and continued to buy cheap Russian crude. It has now emerged that while on one hand US and Europe were criticising India over its Russian crude import, on the other they were buying petroleum products made from refined Russian crude from India in huge quantities.

[nnamster]

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