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global economy
03/16/2022
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By Mary Villareal
Record gas prices are pushing up everyday costs, could lead to recession
Americans are in shock with the surging prices at gas stations across the country. The global energy costs are now rippling through the economy following Russia’s invasion of Ukraine, and the surges appear to be making inflation problems even worse. John Migliorini, vice president of Lakeville Trucking in Rochester, New York, said that customers may […]
11/10/2021
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By Mary Villareal
Elevated crude prices and uptick in demand cause gasoline prices to reach 7-year high
Gasoline prices in the United States reached a new seven-year high as elevated crude prices and an uptick in demand put upward pressure on prices at the pump. Gasoline demand rose to 9.5 million barrels per day, according to data from the Energy Information Administration (EIA). “The slight increase in demand has contributed to price increases, […]
11/03/2021
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By Mary Villareal
China faces gas shortage as Beijing seeks to conserve coal, diesel and other fossil fuels
Just two days after Beijing imposed price controls on its coal rationing, the country is facing another crisis: gas shortage. Many stations across the country are running out of diesel due to supply constraints. As the Chinese economy aggressively reopened following the Wuhan coronavirus (COVID-19) shutdowns, the supply of fossil fuels started to dwindle amidst […]
11/01/2021
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By Mary Villareal
Chinese gas stations ration diesel amid shortages, adding to supply chain crisis
Fuel retailers in China are now rationing diesel volumes to customers as the country intensifies its efforts to avert a supply crunch that is already affecting the coal and natural gas sectors. Long lines of vehicles are making their way to pump stations across Guangxi and Anhui provinces in east and southwest China, with truck […]
10/14/2021
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By Mary Villareal
Oil price jumps to over $80 per barrel due to energy supply shortages
Crude oil price in the U.S. rose 1.5 percent to $80.52 a barrel on Monday, Oct. 11, closing at that rate for the first time since late 2014 and bringing its price climb to 125 percent since the end of October 2020. Oil is now set to outpace copper by the largest amount since 2002 and […]
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