Topic: crude oil

International natural gas and crude prices rose on 2 Mar. as Iran began targeting energy infrastructure in the Middle East.

The structural changes triggered by the pandemic, together with developing technologies such as electric vehicles, new regulations targeting climate change and a drive towards renewable energy, could shift the demand and steadily replace crude oil.

Significant delays in shipping petroleum to the Cayman Islands must be considered when comparing current local retail fuel prices to international benchmark prices, Cayman’s chief petroleum inspector said this week.

Retail fuel prices on Grand Cayman have hit their lowest point in almost six years, with a gallon of regular, unleaded self-serve gasoline costing $3.93 on average as of Tuesday.