Fuel Tax Changes Hit Six States As Energy Inflation Accelerates
UK Sets January 2027 Deadline for Ban on Fuel Made From Russian Crude Kazakhstan auctions 30 exploration blocks… Financial markets are increasingly pricing… Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.
Oil markets extended their decline on Friday, with crude prices falling sharply after U.S.
President Donald Trump said a peace agreement with Iran was close and canceled previously threatened military strikes.
Brent crude slipped below $90 per barrel, trading around $88–$89, while WTI fell to roughly $85–$87, as traders priced in the possibility of de-escalation in the Middle East and a potential reopening of the Strait of Hormuz.
The decline allowed motorists to enjoy some reprieve at the pump, withnational average gas pricesfalling to $4.15 per gallon from $4.52 a month ago.
The relief at the pump comes even as energy remains the biggest inflation concern for the broader economy.U.S.
consumer pricesrose 4.2% in May from a year earlier, the highest annual inflation rate in three years, with energy accounting for roughly 60% of the monthly increase in the Consumer Price Index.
While lower gasoline prices have provided some relief in recent weeks, higher crude prices driven by the Iran conflict continue to filter through fuel, transportation, and utility costs across the economy.
On Monday, GasBuddy’s head of petroleum analysis,Patrick De Haan, said lower oil costs and improving refinery runs were keeping downward pressure on gasoline prices, “however, the future of prices remains murky.
With the Strait of Hormuz remaining effectively closed, global oil supplies continue to tighten, and any further deterioration in the situation could send prices sharply higher.
For now, motorists may enjoy the savings at the pump, but the risk of a significant reversal has not gone away”.
states are getting ready for inflation-indexed fuel tax hikes that will coincide with the 2026 U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment