Chinese EV giant BYD thrives amid global fuel price surge
Chinese electric vehicle manufacturer BYD is experiencing strong global demand outside the United States, driven by rising fuel prices and the introduction of new flash charging technology.The company, which overtook Tesla as the world's largest EV seller last year, is focusing on markets in Asia, Brazil, the UK, and Europe.BYD executive vice president Stella Li stated at the Beijing Auto Show that the company is successful without the US market and is currently facing capacity constraints due to demand exceeding supply.The surge in fuel prices, linked to the conflict in Iran, has increased consumer interest in electric vehicles worldwide.BYD's flash... [Continue Reading]
360LiveNews | 25 Apr 2026 03:01 LONDON
Lufthansa cuts 20,000 summer flights amid soaring jet fuel prices
German airline Lufthansa announced it will reduce 20,000 short-haul flights over the summer due to a sharp increase in jet fuel prices.The airline cited that many journeys have become unprofitable as fuel costs have doubled since the start of the US-Israel war and related Middle East supply disruptions.Jet fuel prices have surged largely because of slowed production and transportation in the Middle East, with the Strait of Hormuz effectively closed by Iran in response to US and Israeli military actions.This strait is a critical transit point for about half of Europe's aviation fuel imports.Lufthansa stated that the cuts will primarily... [Continue Reading]
360LiveNews | 22 Apr 2026 13:01 LONDON
UK inflation rises to 3.3% in March driven by fuel price surge amid Middle East war
The United Kingdom's inflation rate increased to 3.3% in the year to March 2026, up from 3.0% in February.This rise is largely attributed to a significant surge in petrol and diesel prices linked to the ongoing US-Israel war with Iran.The Office for National Statistics (ONS) reported that motor fuel prices rose by 8.7% month-on-month in March, marking the largest monthly increase since June 2022.Over the year to March, fuel prices increased by 4.9%, the highest annual rise since January 2023.In addition to fuel, rising airfares and food prices also contributed to the inflation increase.Food inflation rose from 3.3% to 3.7%,... [Continue Reading]
360LiveNews | 22 Apr 2026 09:31 LONDON
Surge in petrol thefts in UK linked to Iran war fuel price rise
Petrol thefts in the United Kingdom have surged by 62% compared to last year, according to new data from a fuel theft recovery company.Retailers report that drive-offs are now costing thousands of pounds weekly across multiple sites.One petrol retailer operating five garages in southern England reported experiencing about five drive-offs per week at each location, up from one or two previously.CCTV footage shared with the media shows incidents occurring throughout the day, involving various vehicles including motorbikes, vans, and SUVs.The increase in thefts coincides with a significant rise in fuel prices, attributed to the ongoing US-Israel war with Iran.Since the... [Continue Reading]
360LiveNews | 21 Apr 2026 04:02 LONDON
