Articles about Prices

Even if cargo route of strait of Hormuz reopens soon, Food and Drink Federation almost triples earlier forecastBusiness live – latest updatesFood inflation could hit 9% in the UK this year, even if the strait of Hormuz opens within the next few weeks, figures suggest, as the war in Iran pushes up energy prices.The Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has predicted that prices will rise by “at least” 9% the end of 2026, almost tripling a forecast made before the conflict of 3.2%. Continue reading...

Track the latest data on fuel prices, outages and oil tanker deliveriesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crises as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

Adelaide has the biggest price decline, with unleaded down 24.9 cents and diesel down 21.3 centsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFuel prices have started falling immediately across Australia in the wake of the government’s fuel excise cut, unexpectedly accelerating the delivery of the Albanese government’s cost-of-living relief.Prices in capital cities paused then plummeted on Wednesday, after the prime minister announced the tax on petrol and diesel would be halved to 26.3 cents a litre. Continue reading...

• The 10-year Treasury yield declined 18 basis points to 3.82% following the cooler-than-expected inflation reading, marking the steepest single-day drop in three months and reflecting a significant repricing of Fed rate cut probability. • Bond investors rushed into longer-duration securities as real yields compressed, with the 2-year Treasury sliding 12 basis points to 3.45%, indicating heightened expectations for near-term monetary easing. • The yield curve steepening trend accelerated, with the 10-2 spread widening to 37 basis points, suggesting market consensus that the Fed will begin cutting rates this spring while maintaining a measured approach to further reductions.

National average hit $4.02, according to AAA data, capping an extraordinary rise from $2.98 just a month agoAverage US fuel prices have crossed $4 per gallon for the first time in four years, piling pressure on drivers as Donald Trump’s war on Iran continues to boost oil markets.The nationwide average climbed to almost $4.02 on Tuesday, according to AAA data, capping an extraordinary rise from $2.98 just a month ago. It has not been this high since August 2022. Continue reading...

• Asian stock markets declined sharply as geopolitical tensions persisted, with South Korea's Kospi dropping 3.4%, Japan's Nikkei 225 falling 1.2%, and Taiwan's Taiex losing 2.2%, erasing year-to-date gains for some indexes. • Oil markets remained elevated with Brent crude holding near $113 per barrel and US benchmark crude at approximately $103, marking a surge of more than 40% since the Iran conflict began five weeks ago. • A reported drone strike on a Kuwaiti oil tanker and ongoing regional attacks reinforced supply security concerns, keeping markets highly sensitive to geopolitical developments despite signals the US may seek conflict resolution.

Price of typical UK home increased by 0.9% in March, but surging mortgage rates amid conflict in Middle East is expected to put break on activityBusiness live – latest updatesUK house prices increased at the fastest rate in almost 18 months in March, although surging mortgage rates amid the Iran war is likely to lead to a slowdown in the market, according to Nationwide.The UK’s biggest building society said the price of a typical UK home increased by 0.9% month-on-month in March, the largest increase since December 2024. Continue reading...

• U.S. stocks edged higher on March 30, 2026, with the S&P 500 rising 0.2% in afternoon trading after its worst week since the war with Iran began. • The Dow Jones Industrial Average gained 257 points, or 0.6%, while the Nasdaq and Russell 2000 also advanced amid ongoing market volatility. • Oil prices continued climbing due to uncertainty over the timeline of the U.S.-Iran war, contributing to swinging trading sessions on Wall Street.

Washington-based fund says rising energy and food costs will hit economies worldwide and could leave lasting scarsThe International Monetary Fund has warned that “all roads lead to higher prices and slower growth worldwide” should the conflict in the Middle East continue to throttle the amount of oil, gas and fertiliser making its way out of the Gulf.In a stark message that countries on all continents will be affected, the Washington-based organisation said a rise in energy and food costs would harm economic growth this year and could leave lasting scars on the global economy. Continue reading...

• Alcoa shares surged 11-12% and Century Aluminum 13.6% as aluminum prices reached near four-year highs due to Middle East infrastructure strikes. • Iranian missile strikes hit critical metal industry infrastructure, disrupting supply and driving the commodity rally amid the widening conflict. • The gains in metal stocks contribute to broader market recovery, underscoring sector sensitivity to geopolitical supply shocks.

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins The towns that are the bulwark of China’s energy security can, at a moment of global crisis, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal. Continue reading...

• Crude oil prices have climbed to their highest levels since 2022, driven by geopolitical tensions from the ongoing Iran war and uncertainty over shipping through the Strait of Hormuz. • President Trump extended his self-imposed deadline to "obliterate" Iran's power plants to April 6, contingent on Iran allowing oil tankers to freely exit the Persian Gulf through the Strait of Hormuz. • The elevated oil prices are contributing to market volatility, with Wall Street experiencing daily fluctuations as investor sentiment shifts between hopes for war resolution and renewed concerns.

• Netflix announced its second price increase in just over a year, with the standard plan without ads rising to $19.99 and the premium plan climbing to $26.99, both increases of $2 per month. • The ad-supported standard plan will cost $8.99, up $1 from its previous price, reflecting the company's monetization strategy across its tier offerings. • These price changes were reflected on Netflix's website Thursday as the streaming service continues expanding its content library amid ongoing subscriber growth.

Higher blend has been prohibited in warm weather because of concerns it could worsen smogThe US Environmental Protection Agency said Wednesday that it would temporarily allow widespread sales of a higher ethanol gas blend in a move that they hope will tamp down consumer prices that have soared since the Iran war began.The higher blend has been prohibited in warm weather because of concerns it could worsen smog. Continue reading...

UK clothing and homeware retailer working on assumption that war could last three monthsBusiness live – latest updatesNext has warned that the war in the Middle East will add £15m to its costs on the assumption it will last three months, adding that prices will have to go up if the conflict persists beyond that.The UK clothing and homeware retailer said it was currently offsetting the additional costs on fuel and air freight with savings elsewhere and it did not expect any affect on profits for the year ahead. Continue reading...

Iran conflict could see shortages not just in fuel, but fertiliser and fossil fuel resins – used to make milk bottlesGet our breaking news email, free app or daily news podcastFarmers say Australian consumers could pay more for everyday staples for the next year at least as a result of the US-Israel war on Iran.But the CEO of dairy farmer cooperative Norco, Michael Hampson, says a six to 12 month disruption to food supply is likely a best-case scenario, depending on the strait of Hormuz reopening soon and global petrochemical supply chains beginning to stabilise. Continue reading...

Fuel stocks at same level as when US and Israel launched their war on Iran a month ago, energy minister saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe federal government is preparing for scenarios where global oil prices spike above US$120 a barrel, as diesel prices nationwide go past $3 a litre and the prime minister, Anthony Albanese, plans another national cabinet meeting to plan petrol supply.The treasurer, Jim Chalmers, said one option under consideration was expanding ethanol mandates across the country, after Guardian Australia revealed the government was analysing increasing the biofuel’s supply. Continue reading...

Iran Guards said they fired missiles at Israel and US forces in bases in Kuwait, Jordan and Bahrain; crude oil prices fall sharply in early tradingTrump’s rehashed 15-point Iran plan unlikely to appease TehranDisruptions to international fertiliser supplies caused by the closing of the strait of Hormuz will cause food scarcity and high prices, the World Trade Organisation’s deputy director general, Jean-Marie Paugam, told Agence France-Press.A third of the world’s fertilisers normally transit the strait, which has been virtually closed by Iran since the start of the war. Continue reading...

• S&P 500 dropped 0.80%, Dow Jones fell 0.83%, and Nasdaq 100 declined 0.98% in early trading on March 24, 2026, amid Middle East tensions. • Crude oil surged over 4% to $91.80, up $3.67, as Iran's parliament speaker Mohammad Bagher Qalibaf denied US negotiations, contradicting President Trump's claims of productive talks. • Citi analysts warn prolonged conflict could push oil to $200 per barrel, heightening inflation fears and pressuring equities.

Vehicle numbers on key Sydney and Melbourne roads have held steady, as calls grow for free or cheaper public transport to encourage people to drive lessFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralians appear to have kept driving despite soaring petrol prices, as calls grow for free or discounted public transport to help people save fuel and get off the road.Traffic and public transport usage are holding steady, with experts warning the country needs to change travel methods or start working from home if fuel costs keep rising.Do you know more? Email [email protected] Continue reading...

• Brent crude oil prices showed modest gains of approximately 1% despite elevated geopolitical rhetoric, indicating potential underestimation of conflict escalation risks by the energy market. • Energy price volatility is creating supply chain pressures and financial stress for corporations, with rising energy costs cited as a major factor in corporate capacity reduction decisions and market-wide weakness. • The US government's expanding influence over global energy markets reflects efforts to manage price stability and geopolitical risks, with EPA Administrator Lee Zeldin discussing energy policy responses on financial media.

Online searches for electric and hybrid cars increase as war-linked fuel prices hit highest levels in nearly three yearsSign up for the Breaking News US email to get newsletter alerts in your inboxUS car buyers are showing a surge in interest in electric vehicles after Donald Trump’s decision to attack Iran helped cause a major jump in gasoline prices.The cost to refuel a vehicle in the US is at its highest level in nearly three years, with the average national price of gas standing at $3.90 a gallon on Friday. Continue reading...

IEA makes 10 recommendations to help households and businesses prepare for a drawn-out disruption to energy marketsThe world’s energy watchdog has advised governments to reduce highway speeds and encouraged workers to carpool or, ideally, work from home to combat soaring oil prices and impending fuel shortages caused by the Middle East conflict.It has also recommended countries consider limiting car access to designated zones in large cities, by giving vehicles with odd-numbered plates access on different weekdays to those with even-numbered plates.Work from home where possible to save petrol.Reduce highway speed limits by at least 10km/h to reduce fuel usage.Encourage public transport to reduce oil demand.Limit car access to roads in large cities through a number-plate rotation scheme.Increase car sharing.Encourage efficient driving for commercial vehicles through load optimisation and vehicle maintenance.Divert LPG use from transport to preserve it for essential needs like cooking.Avoid air travel where possible.Encourage electric cooking and other options to reduce reliance on LPG.Help industrial facilities switch between different petrochemical feedstocks to free up LPG. Continue reading...

Samoa and Tonga raise supply concerns with foreign partners as businesses and residents in Papua New Guinea grapple with higher fuel prices amid the Iran warThe leaders of some Pacific countries have appealed for help with oil supplies while others urge against “panic buying” as the import-reliant nations grapple with fears over possible fuel shortages and escalating costs caused by war in the Middle East.Oil prices have surged to nearly $110 a barrel after strikes against energy infrastructure in Iran and the Gulf states. Continue reading...

Iran war and its impact on energy and fertiliser costs is the main risk to the global economy, report saysBusiness live – latest updatesAn extended period of high oil prices as a result of war in the Middle East could “crimp” the AI boom, the World Trade Organization’s chief economist has warned.The war and its impact on energy and fertiliser costs is the main risk to the global economy identified in the WTO’s latest Global Trade Outlook. Continue reading...

Month-ahead UK wholesale gas price hits highest level since August 2022 as Donald Trump threatens retaliationMiddle East crisis – live updatesBusiness live – latest updatesGas prices jumped and oil prices rose again after an escalation of attacks by Israel and Iran on gasfields heightened fears of prolonged disruption to international energy supplies.Brent crude, the global oil benchmark, rose by 8% to $116 a barrel. Crude prices have soared by nearly 60% since US and Israeli attacks on Iran started the war on 28 February. Continue reading...

Rolling coverage of the latest economic and financial newsUK wage growth slows sharply as unemployment holds steadyFed holds interest rates steady as Iran war drives up oil prices and inflation fearsMiddle East crisis live: Trump threatens to ‘blow up’ entire South Pars gasfield if Iran strikes QatarUK wage growth has slowed to a five-year low, in a worrying sign for workers as the Middle East crisis pushes up energy costs.Average pay (excluding bonuses) rose by 3.8% in the three months to January, down from 4.1% in October-December 2025, the Office for National Statistics reports.“With unemployment staying steady at 5.2% and a rare gain in payrolls employment, this report paints a mildly more positive picture of the labour market. And with wage growth softer again, in normal times this would have been a relatively reassuring report for the Bank of England.But the report feels stale in light of the Iran conflict, and the inflation risks stemming from the large spike in energy prices. So while today’s Bank of England meeting had once looked like the likely point of the next rate cut, instead policy is set to be kept on hold today as policymakers give themselves more time to see how the conflict plays out. Continue reading...

Jerome Powell resists Trump pressure as policymakers weigh energy shock against a weakening US jobs marketSign up for the Breaking News US email to get newsletter alerts in your inboxThe US Federal Reserve held interest rates steady for the second time this year, a widely expected move amid turmoil in the Middle East and rising energy prices.Fed officials faced a confluence of issues to consider in their meeting this week: soaring oil and gas prices, fluctuating inflation that still remains above the Fed’s target of 2% and a weakened job market that unexpectedly saw 92,000 losses last month. Continue reading...