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Articles on Oil prices

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Erik Mclean/Unsplash

Have we seen the last of $2 petrol for a while?

If the fuel excise cut is not extended, average petrol prices in Australia will almost certainly return to the above $2 territory by early October. But a different solution is needed.
Gas prices are at record highs. AP Photo/Gene J. Puskar

Federal gas tax holiday: Biden says it will provide ‘a little bit of relief’ – but experts say even that may be a stretch

We asked four experts to explain what gas taxes are used for and whether waiving them will make much of a difference to American households.
Several sites, such as this one near Freeport, Texas, store the hundreds of million of barrels in the United States’ Strategic Petroleum Reserve. Department of Energy via AP

Biden bets a million barrels a day will drive down soaring gas prices – what you need to know about the Strategic Petroleum Reserve

The total release could reach 180 million barrels over six months, which would make it the biggest in the history of the Strategic Petroleum Reserve.
The war in Ukraine will continue to push up food prices as the supply from the ‘Breadbasket of Europe’ is cut in the short term and, possibly, the long term. (Shutterstock)

How the war in Ukraine will affect food prices

The Russian invasion of Ukraine will have global impacts far beyond the region directly involved in the fighting. Food prices will increase, and the effects will be felt by the most vulnerable.
People in the Russian city of St. Petersburg stand in line to withdraw U.S. dollars and euros from an ATM. Ordinary Russians faced the prospect of higher prices as western sanctions over the invasion of Ukraine sent the ruble plummeting. (AP Photo/Dmitri Lovetsky)

From soaring gas prices to another world war, economic sanctions can lead to dire unintended consequences

Over-reliance on sanctions and economic warfare measures have led to strategic complacency and the avoidance of negotiations on the part of the western governments.
Alberta’s approach to fiscal management involves a nauseating cycle of big spending followed by massive cuts — almost entirely due to the outsized influence of oil and gas revenues. The rollercoaster at the West Edmonton Mall is seen in this photo. (Jerry Bowley/Flickr)

Alberta budget means Albertans are trapped on a relentless fiscal rollercoaster ride

Every time Alberta’s energy-based economy goes into a tailspin, it’s because the price of oil has declined precipitously, and when it booms, it’s because the price has soared.

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