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Al Mayadeen's correspondent: 35 martyrs, 75 injured in occupation targeting of civilians seeking food aid in Rafah, Khan Younis, southern Gaza.
Da Silva: What is happening in Gaza is not a war, it is a genocide
Da Silva: Even the Jewish people do not want this war; it is revenge by a government against the possibility of establishing a Palestinian state
Brazilian President Lula da Silva: What we are seeing is not a war between two armies. [What we have is a] completely professional army that is killing women and children in the Gaza Strip.
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Al Mayadeen's correspondent: Israeli occupation forces blew up Noura Al-Kaabi Hospital, designated for kidney dialysis patients, in the northern Gaza Strip
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Yemeni Armed Forces Spokesperson Yahya Saree: The remaining airlines that have not yet complied with the ban are urged to take this into serious consideration to ensure the safety of their aircraft and passengers
Yemeni Armed Forces Spokesperson Yahya Saree: The YAF, after successfully imposing a partial ban on air traffic at Lydd Airport, are now working to impose a full ban on air traffic at the aforementioned airport in the coming period

Fuel prices skyrocket in US, UK

  • By Al Mayadeen Net
  • Source: Agencies
  • 14 Jun 2022 17:32
4 Min Read

Fuel prices in the UK reach new highs and the US average price per gallon jumps to $5. 

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  • Fuel prices skyrocket in the US and the UK.
    Fuel prices skyrocket in the US and the UK.

The national average price for regular unleaded gas in the United States rose to $5.016 per gallon on Tuesday, according to data from the American Automobile Association (AAA), which tracks prices at more than 60,000 gas stations across the country.

Historically, the highest prices have been recorded in California, up to $6.44 per gallon, and the lowest in Georgia, at $4.49 per gallon.

The AAA stated that the rising prices are having no effect on demand during the traditionally busy summer driving season.

“Based on the demand we’re seeing, it seems high prices have not really deterred drivers,” said AAA spokesperson Andrew Gross. He added, however, that if prices remain at or above $5, “we may see people start to change their daily driving habits or lifestyle.”

Read next: American Automobile Association: US gas prices set new record of $4.67

Fuel demand increased to 9.2 million barrels per day last week, up from 8.98 million barrels per day the previous week, according to the US Energy Information Administration (EIA). Meanwhile, total domestic gasoline stocks fell by 800,000 barrels last week to 218.2 million barrels.

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“This dynamic between decreased supply and increased demand is contributing to rising prices at the pump,” AAA stated in a press release.

Another factor that has contributed to fuel price increases is the rise in global oil prices, which has been fueled by rebounding post-pandemic demand and sanctions imposed on Russia, one of the world's largest crude producers and exporters.

UK fuel prices hit new high 

The average price of diesel has reached a new high of 190.92 pence per liter, while gasoline has risen to 185.04 pence.

According to RAC calculations, a 55-liter family car with diesel now costs £105.01 ($128.14), while a full tank of gasoline costs £101.77 ($124.19).

“The speed and scale of the increase is staggering… Incredibly, the government is now raking around £46 ($56) in tax from every full tank,” RAC fuel spokesman Simon Williams said in a statement cited by Bloomberg.

The rise in fuel prices is due to the rising global price of oil, as well as the United Kingdom's plans to reduce its reliance on Russia, one of the world's largest oil exporters.

Read next: EU and UK sanctions to exacerbate energy crisis

The UK is not alone in experiencing rising fuel prices, with the US and the EU also grappling with rising gas prices since Moscow launched its military operation in Ukraine in late February. A slew of sanctions against Russian energy has exacerbated supply concerns.

UK motoring groups have urged the government to take more decisive action to assist drivers in dealing with the price increase. The government already reduced fuel duty by 5 pence per liter in March, but motorists deemed the reduction insufficient. According to the RAC, a further reduction in fuel tax is long overdue but would still be "very welcome."

Following Business Secretary Kwasi Kwarteng's request for the watchdog to investigate whether the 5 pence duty cut is being passed on to drivers quickly enough, the UK's Competition and Markets Authority (CMA) announced on Monday that it would conduct a "short and focused review" of the fuel market.

Read next: UK unlikely to have enough shale gas to mitigate rising fuel prices

  • Fuel prices
  • Energy crisis
  • United States
  • United Kingdom

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