Category: fuel
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Costly fuel looms on push for bigger oil dealer profits
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Kenyans are set to pay an extra Sh4.45 per litre of fuel if a proposal in a study commissioned by the Energy Regulatory Authority is adopted, raising concerns about pressure on cost-of-living measures. The study by consultants Corrent Technologies and Channel Consulting Limited proposes increasing margins offered to oil marketing…
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Vivo Energy half-year sales drop by Sh2bn amid record fuel prices
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Vivo Energy’s revenue in the Kenyan market fell by $16 million (Sh2.06 billion) in the first half of 2024, as record high fuel prices hit demand. The multinational said its Kenyan unit generated revenue of $769 million (Sh99.16 billion) during the six months, compared to $785 million (Sh101.22 billion) a…
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Scrap 5p fuel duty cut as drivers miss out on savings, says RAC
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A royal advisory committee has called for the 5p fuel tax cut to be scrapped, claiming motorists are not benefiting as intended. Introduced in 2022 to ease the cost of living crisis, the cut is costing the Treasury £2bn a year but has failed to translate into savings at the…
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How Meme Culture Fuel Its Rise In 2024
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The cryptocurrency market is buzzing with the latest trendsetter, $DOGS Token, a meme coin that’s capturing attention thanks to its explosive entrance on major exchanges like Binance and OKX. Inspired by popular internet culture, DOGS isn’t just another flashy meme coin; it’s become a sensation partly due to its unique…
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Motorists overpay Sh16bn in fuel deal with Gulf firms
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Motorists have been overcharged by an estimated Sh16.4 billion or Sh2.70 per litre of fuel since Kenya opted for government-to-government oil supply contracts with three Gulf-based companies, boosting the profits of three local companies at the expense of consumers. Kenya entered into the deal with Saudi Aramco, Abu Dhabi National…
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S&P 500 gains 1.4% in weekly rise, with fuel from the Fed greenlighting rate cuts
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The Standard & Poor’s 500 Index (SP500) rose 1.44% on Friday for the week to close at 5,634.61 points, gaining in three of the last five sessions. The accompanying SPDR S&P 500 ETF Trust (New York: Spy) rose by 1.41% during the week. Wall Street Reference index (sb 500The index…
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Indonesia Seeks Bigger Biodiesel Blend to Reduce Fossil Fuel Use
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Breadcrumbs Path Links PMN Business Indonesia is seeking to blend more palm oil into diesel to cut its use of fossil fuels, with the ambitious target raising the risk of tightening tropical oil supplies. Article author: Bloomberg News Ecolisterin Published on August 19, 2024 • Read for 2 minutes You…
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Plan from California’s Newsom would make refiners stockpile fuel reserves (NYSE:CVX)
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Justin Paget/Digital Vision via Getty Images California Gov. Gavin Newsom proposed legislation Thursday that would require oil refineries in the state to Maintain minimum reserves of gasoline and other fuels in an effort to prevent supply shortages and price hikes during refinery outages. Energy in California The commission said refineries…
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Fuel prices unchanged for first time since December last year
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Fuel prices remained steady for the first time this year, ending months of consecutive price cuts that consumers have enjoyed since December last year. The Energy and Petroleum Regulatory Authority (EPRA) has kept the pump prices of a litre of petrol and diesel unchanged at Sh188.84 and Sh171.60 respectively in…
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August electricity prices up 1.5pc a unit on higher fuel, forex costs
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New calculations show that consumers will pay about 1.5 percent more per unit of electricity used in August, due to higher fuel and foreign exchange costs. The Energy and Petroleum Regulatory Authority has revised electricity prices upwards in its latest monthly review, which will see average domestic customers pay an…
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Tech Stocks Sink as War Jitters Fuel Rush to Bonds: Markets Wrap
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(Bloomberg) — Stock markets were hammered by a broad selloff in the world’s biggest technology companies ahead of key central bank decisions. Bonds and gold rose as traders rushed to safe havens amid geopolitical risks. Oil remained lower. Most Read from Bloomberg The Israeli military struck Beirut, targeting a Hezbollah…
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Reeves scraps winter fuel payments for 10M pensioners to fund public sector pay rise
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Rachel Reeves will scrap winter fuel payments for 10 million pensioners to help fund huge public sector pay rises. The Chancellor has announced plans to save £5.5bn this year, addressing a £22bn deficit in the public finances left by the previous government. Most of the savings will be used to…
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Stock splits can be rocket fuel for a company’s shares. Here’s who could be next.
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iStock; Rebecca Zisser / P MicroStrategy announced a 10-for-1 stock split, with its shares hitting $1,340. Record high prices for stocks popular with investors have led to a boom in stock splits this year. A group of companies with stock prices above $500 could be candidates for a split, a…
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Donald Trump 2024 Victory May Fuel Year-End Bitcoin Price Surge, Report Finds
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As the US presidential election approaches, crypto traders and analysts are predicting a win for Donald Trump Bitcoin’s November price surge could lead to new highs, according to a report in the Financial Times. Despite expectations of Post-Half MarchBitcoin has struggled to gain momentum since April, as it faced various…
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Cardano And XRP Shorting Activity Could Act As ‘Rocket Fuel’ For A Rally; Santiment
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Santiment on-chain analytics platform He highlighted a factor that could contribute to this Cardano (ADA) and XRP Enjoy more moves to the upside. Both tokens registered relief pumps after the recent decline in the cryptocurrency market, but market traders believe that this development is far from unrealistic. Bullish reversal. Heavy…
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Cardano And XRP Shorting Activity Could Act As ‘Rocket Fuel’ For A Rally; Santiment
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Santiment on-chain analytics platform He highlighted a factor that could contribute to this Cardano (ADA) and XRP Enjoy more moves to the upside. Both tokens registered relief pumps after the recent decline in the cryptocurrency market, but market traders believe that this development is far from unrealistic. Bullish reversal. Heavy…
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Q4 Momentum and AI Leadership Fuel Optimism By Investing.com
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In a series of recent investor meetings in the US, Infosys’ CFO and Controller shared upbeat updates on the company’s progress and future prospects. According to Bank of America, Infosys (NS:) is going well through 1QFY24, thanks to the ramp-up of several key deals that started in March. Despite the…
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Fossil fuel producers, corn growers sue to block new Biden vehicle emissions rule
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3alexd Biofuels groups joined oil and gas producers this week Prosecute They are seeking to block the Biden administration’s new tailpipe emissions standards that they say would effectively end the sale of new gas-powered vehicles by 2032. American Petroleum Institute The National Corn Growers Association, the American Farm Bureau Federation…
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Rising fuel inventories hit crack spreads, likely signaling refining slowdown ahead
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Slavko Sereda/iStock via Getty Images Oil futures posted strong weekly gains that offset the big decline that followed OPEC’s June 2 announcement of its plan to begin bringing back about 2.2 million barrels per day of crude oil later this year. It’s been a week taught by Conflicting demand forecastsOPEC…
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Will ECB Rate Cut Fuel Bitcoin Rally?
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Bitcoin prices are set to rise following the European Central Bank’s (ECB) decision to initiate its first decision Reducing the interest rate In five years yesterday. A unanimous vote by all 20 national representatives resulted in a 0.25% cut in interest rates, marking a major shift in monetary policy for…