World
How much for gas? Around the world, pain is felt at the pump
Published
4 years agoon
COLOGNE, Germany (AP) — At a gas station near the Cologne, Germany, airport, Bernd Mueller watches the digits quickly climb on the pump: 22 euros ($23), 23 euros, 24 euros. The numbers showing how much gasoline he’s getting rise, too. But much more slowly. Painfully slowly.
“I’m getting rid of my car this October, November,” said Mueller, 80. “I’m retired, and then there’s gas and all that. At some point, you’ve got to scale back.”
Across the globe, drivers like Mueller are rethinking their habits and personal finances amid skyrocketing prices for gasoline and diesel, fueled by Russia’s war in Ukraine and the global rebound from the COVID-19 pandemic. Energy prices are a key driver of inflation that is rising worldwide and making the cost of living more expensive.
A motorcycle taxi driver in Vietnam turns off his ride-hailing app rather than burn precious fuel during rush-hour backups. A French family scales back ambitions for an August vacation. A graphic designer in California factors the gas price into the bill for a night out. A mom in Rome, figuring the cost of driving her son to camp, mentally crosses off a pizza night.
Decisions across the world’s economy are as varied as the consumers and countries themselves: Walk more. Dust off that bicycle. Take the subway, the train or the bus. Use a lighter touch on the gas pedal to save fuel. Review that road trip — is it worth it? Or perhaps even go carless.
For the untold millions who don’t have access to adequate public transportation or otherwise can’t forgo their car, the solution is to grit their teeth and pay while cutting costs elsewhere.
Nguyen Trong Tuyen, a motorcycle taxi driver working for the Grab online ride-hailing service in Hanoi, Vietnam, said he’s been simply switching off the app during rush hour.
“If I get stuck in a traffic jam, the ride fee won’t cover the gasoline cost for the trip,” he said.
Many drivers have been halting their services like Tuyen, making it difficult for customers to book rides.
In Manila, Ronald Sibeyee used to burn 900 pesos ($16.83) worth of diesel a day to run his jeepney, a colorfully decorated vehicle popular for public transportation in the Philippines that evolved from U.S. military jeeps left behind after World War II. Now, it’s as much as 2,200 pesos ($41.40).
“That should have been our income already. Now there’s nothing, or whatever is left,” he said. His income has fallen about 40% due to the fuel price hikes.
Gasoline and diesel prices are a complex equation of the cost of crude oil, taxes, the purchasing power and wealth of individual countries, government subsidies where they exist, and the cut taken by middlemen such as refineries. Oil is priced in dollars, so if a country is an energy importer, the exchange rate plays a role — the recently weaker euro has helped push up gasoline prices in Europe.
And there’s often geopolitical factors, such as the war in Ukraine. Buyers shunning Russian barrels and Western plans to ban the country’s oil have jolted energy markets already facing tight supplies from the rapid pandemic rebound.
There’s a global oil price — around $110 a barrel — but no global pump price due to taxes and other factors. In Hong Kong and Norway, you can pay more than $10 per gallon. In Germany, it can be around $7.50 per gallon, and in France, about $8. While lower fuel taxes mean the U.S. average for a gallon of gas is somewhat cheaper at $5, it’s still the first time the price has been that high.
People in poorer countries quickly feel the stress from higher energy prices, but Europeans and Americans also are being squeezed. Americans have less access to public transport, and even Europe’s transit networks don’t reach everyone, particularly those in the countryside.
Charles Dupont, manager of a clothing store in Essonne region south of Paris, simply has to use his car to commute to work.
“I practice eco-driving, meaning driving slower and avoiding sudden braking,” he said.
Others are doing what they can to cut back. Letizia Cecinelli, filling her car at a Rome gas station, said she was biking and trying to reduce car trips “where possible.”
“But if I have a kid and I have to take him to camp? I have to do it by cutting out an extra pizza,” she said.
Pump prices can be political dynamite. U.S. President Joe Biden has pushed for Saudi Arabia to pump more oil to help bring down gas prices, deciding to travel to the kingdom next month after the Saudi-led OPEC+ alliance decided to boost production. The U.S. and other countries also have released oil from their strategic reserves, which helps but isn’t decisive.
Several countries have fuel price caps, including Hungary, where the discount doesn’t apply to foreign license plates. In Germany, the government cut taxes by 35 euro cents a liter on gasoline and 17 cents on diesel, but prices soon began to rise again.
Germany also has introduced a discounted 9-euro monthly ticket for public transportation, which led to crowded stations and trains on a recent holiday weekend. But the program only lasts for three months and is of little use to people in the countryside if there’s no train station nearby.
In fact, people are pumping just as much gas as they did before the pandemic, according to Germany’s gas station association.
“People are filling up just as much as before — they’re grumbling but they’re accepting it,” group spokesman Herbert Rabl said.
Is there any relief in sight? A lot depends on how the war in Ukraine affects global oil markets. Analysts say some Russian oil is almost certain to be lost to markets because the European Union, Russia’s biggest and closest customer, has vowed to end most purchases from Moscow within six months.
Meanwhile, India and China are buying more Russian oil. Europe will have to get its supply from somewhere else, such as Middle Eastern exporters. But OPEC+, which includes Russia, has been failing to meet its production targets.
For many, spending on things like nights out and, in Europe, the near-religious devotion to extended late summer vacations, are on the cutting table.
Isabelle Bruno, a teacher in the Paris suburbs, now takes the bus to the train station instead of making the 10-minute drive.
“My husband and I are really worried about the holidays because we used to drive our car really often while visiting our family in southern France,” she said. “We will now pay attention to train tickets and use our car only for short rides.”
Leo Theus, a graphic designer from the San Francisco Bay Area city of Hayward, has to be “strategic” in budgeting gas as he heads to meet clients — he might not fill the tank all the way. Gas prices in California are the highest in the U.S., reaching close to $7 per gallon in some parts of the state.
When it comes to going to a club or bar after work, “you’ve got to think about gas now, you got to decide, is it really worth it to go out there or not?” Theus said.
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US NATIONAL NEWS
U.S. Expands Sanctions Targeting Iran’s Financial Networks and Regime Financiers
Published
3 days agoon
July 10, 2026WASHINGTON (FNN NEWS) — The Trump administration announced a new round of sanctions Friday targeting individuals and businesses accused of helping finance Iran’s ruling elite and facilitating international financial transactions on behalf of the Iranian regime.
The sanctions, announced by the U.S. Department of the Treasury, target a global financial network that U.S. officials say supports Iran’s Supreme Leader and other senior regime officials.
Global Financial Network Targeted
According to the administration, the sanctions focus on Ali Ansari, a Dubai-based Iranian national accused of managing an extensive network of real estate and commercial holdings across multiple countries on behalf of Mojtaba Khamenei, the son of Iran’s Supreme Leader, and other regime insiders.
U.S. officials said the network includes assets and business interests in:
- Germany
- United Kingdom
- Spain
- Cyprus
- United Arab Emirates
- Other international jurisdictions
The administration alleges the network has been used to help Iranian regime officials maintain access to international financial markets.
Currency Exchange Houses Sanctioned
The Treasury Department also imposed sanctions on three Iran-based currency exchange firms and their associated leadership:
- Mohammad Darbani and Partners
- Lavasani and Partners
- Mohsen Khandan and Partners
The sanctions also extend to the firms’ managing partners and affiliated front companies.
According to the administration, these entities allegedly enabled Iran to obtain foreign currency and conduct international financial transactions despite existing U.S. sanctions.
Administration Cites Maximum Pressure Campaign
The White House said the latest designations are part of President Donald Trump’s broader strategy to increase economic pressure on Iran.
Administration officials said they will continue targeting individuals, businesses and financial institutions—including foreign entities—that facilitate illicit Iranian commerce or assist the regime in evading U.S. sanctions.
The administration maintains that the sanctions are intended to pressure Iran to end what it describes as destabilizing activities in the region and to hold accountable those who enable corruption within the Iranian government.
Authorities Used for Sanctions
The sanctions were imposed under multiple executive authorities, including:
- Executive Order 13902, targeting Iran’s financial and petroleum sectors.
- Executive Order 13876, focusing on Iran’s Supreme Leader and affiliated individuals.
- Executive Order 13224, as amended by Executive Order 13886, which provides counterterrorism sanctions authority.
Treasury officials said the latest designations build upon previous actions by the Office of Foreign Assets Control (OFAC) targeting Iran’s shadow banking system and currency exchange networks.
World
U.S., CARICOM IMPACS Sign Landmark Biometrics Data-Sharing Agreement to Strengthen Border Security
Published
3 days agoon
July 10, 2026WASHINGTON (FNN NEWS) — The U.S. Department of Homeland Security (DHS) and the CARICOM Implementation Agency for Crime and Security (CARICOM IMPACS) signed a Biometrics Data Sharing Partnership (BDSP) Memorandum of Cooperation (MOC) on Friday, establishing a new framework for sharing biometric information to strengthen border security and immigration screening.
The agreement was signed July 10 at the Embassy of Saint Kitts and Nevis in Washington, D.C.
Strengthening National and Regional Security
According to DHS, the agreement enhances U.S. national security by enabling biometric information sharing between the United States and CARICOM member states that operate Citizenship by Investment (CBI) programs.
Officials said the partnership will improve the ability of both the United States and participating Caribbean nations to identify potential security threats before individuals enter the United States.
The agreement is also intended to help prevent individuals from exploiting Citizenship by Investment programs to evade immigration or law enforcement screening, addressing what officials described as a critical gap in Western Hemisphere security.
Supporting Immigration Integrity
The memorandum also reflects Caribbean governments’ commitment to strengthening immigration integrity and aligning border security practices with U.S. standards.
DHS said the partnership reinforces regional cooperation on identity verification, information sharing and security screening while supporting lawful travel and international security efforts.
Senior Officials Attend Signing Ceremony
The signing ceremony brought together senior representatives from:
- U.S. Department of Homeland Security
- White House Homeland Security Council
- U.S. Department of State
- CARICOM IMPACS
Diplomatic representatives from the following Caribbean nations also participated:
- Antigua and Barbuda
- Dominica
- Grenada
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
These countries currently operate Citizenship by Investment programs that provide foreign nationals a pathway to citizenship through qualifying investments.
Regional Security Cooperation Expands
The Biometrics Data Sharing Partnership represents one of the most significant security cooperation agreements between the United States and CARICOM member states in recent years.
Officials said the framework will strengthen information sharing, improve border security, support immigration integrity and enhance efforts to identify individuals who may pose security risks before they travel to the United States.
World
CARICOM Leaders Unveil Regional Measures to Combat Rising Cost of Living
Published
3 days agoon
July 10, 2026GROS ISLET, Saint Lucia (FNN NEWS) — Caribbean leaders agreed on a series of regional and national measures aimed at easing the rising cost of living during the 51st Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM), held July 5–8 in Gros Islet, Saint Lucia.
Meeting under the theme “CARICOM: From Resilience to Renewal in a Changing World,” Heads of Government focused on policies designed to reduce the financial burden on households as geopolitical tensions continue to drive up global prices for fuel, transportation and essential goods.
People-First Agenda
Speaking at the closing news conference, CARICOM Chairman and Saint Lucia Prime Minister Philip J. Pierre said leaders centered their discussions on improving the daily lives of Caribbean citizens.
“Our discussions over the past four days were guided by one central objective—ensuring that CARICOM delivers results that people can see and feel in their everyday lives,” Pierre said.
He said member states agreed to strengthen regional cooperation to:
- Protect consumers
- Improve affordability
- Provide additional relief for vulnerable households
- Address rising prices across the Caribbean Community
Pierre acknowledged that every CARICOM nation is experiencing higher living costs, largely fueled by global increases in energy prices.
“There is one factor we have no control over, which is the price of fuel,” he said.
Saint Lucia has responded by removing the value-added tax (VAT) on selected essential goods.
Regional Solutions to Lower Costs
CARICOM leaders outlined several initiatives intended to reduce costs across the region, including:
- Reducing taxes on imported fuel
- Lowering freight and shipping costs
- Expanding renewable energy investments
- Reducing intra-regional cargo transportation expenses
- Accelerating the launch of a regional ferry service
Leaders said improving transportation and energy infrastructure is critical to making goods and services more affordable throughout the Caribbean.
Barbados Expands Financial Relief
Barbados Prime Minister Mia Amor Mottley highlighted several national initiatives already underway, including:
- A cost-of-living allowance for pensioners
- A 30% increase in welfare payments
- Consumer price comparison technology allowing shoppers to compare prices among retailers
Mottley also identified the proposed regional ferry service as one of CARICOM’s most significant economic initiatives.
The ferry system would reduce shipping costs by improving cargo movement among Caribbean nations while strengthening regional trade.
Officials plan to use a Trinidad and Tobago ferry as a proof of concept while private-sector operators acquire additional vessels. Regulatory work is expected to be completed within three months, while procurement of permanent vessels could take up to one year.
Mottley also announced efforts to establish agreements covering:
- Mutual recognition of licenses
- Insurance standards
- Port infrastructure improvements
- Cross-border movement of cargo vehicles
Healthcare Collaboration to Reduce Costs
Trinidad and Tobago Prime Minister Kamla Persad-Bissessar proposed expanding regional healthcare cooperation as another way to reduce living expenses.
She offered CARICOM members access to Trinidad and Tobago’s:
- National prosthetic center
- Specialized children’s hospital
- Medical professionals and specialists
“If we partner together, we can bring down the cost of living,” Persad-Bissessar said.
Renewable Energy a Long-Term Priority
Outgoing CARICOM Chairman Dr. Terrance Drew, Prime Minister of Saint Kitts and Nevis, emphasized that energy remains one of the region’s greatest economic challenges.
He called for accelerated investments in:
- Solar energy
- Wind power
- Geothermal energy
- Wave energy
Drew said greater energy independence would help stabilize electricity costs, strengthen Caribbean economies and provide long-term relief for consumers.
“Renewable energy can really help transform the Caribbean and help us manage the cost of living for all of our people,” he said.
Looking Ahead
CARICOM leaders concluded the summit by reaffirming their commitment to expanding regional cooperation to improve affordability, strengthen consumer protections and increase economic resilience across the Caribbean.
Officials said the planned ferry network, renewable energy investments and coordinated economic policies are expected to play key roles in reducing costs for Caribbean families while promoting long-term regional growth.
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