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As a result of the war in Ukraine pushing the global barrel price of oil to record highs, fuel prices soared. This resulted in the highest-ever fuel prices recorded in the UK. In early-July 2022, the average price for a litre of diesel reached 199.09p, while the average unleaded price was 191.55p per litre.
The fuel, also known as heating oil in the UK and Ireland, remains widely used in kerosene lamps and lanterns in the developing world. [41] Although it replaced whale oil , the 1873 edition of Elements of Chemistry said, "The vapor of this substance [kerosene] mixed with air is as explosive as gunpowder."
#2 Heating oil price, 1986–2022 Kerosene inventory stock levels (United States), 1993–2022. Heating oil is known in the United States as No. 2 heating oil. In the U.S., it must conform to ASTM standard D396. Diesel and kerosene, while often confused as being similar or identical, must each conform to their respective ASTM standards. [3]
Councillor Ruth Houghton says the kerosene in the drains is "still flowing" after 10 days.
Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
The official noted that benchmark oil prices have dropped by $35 per barrel since the start of the war, with the average price for gasoline in the United States falling from $4 to just over $3 today.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Warnings about the UK's gas supply make the lead for several of Saturday's front pages. The Daily Telegraph reports that British Gas owner Centrica says gas reserves are "concerningly" only half ...