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NEWS ABOUT: fuel costs

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Motorists Brake for Fuel Prices

Drivers try to get savings any way they can, even if it means slowing down

(Newser) - It’s common knowledge that driving a little slower makes more efficient use of gas. And with fuel prices sky-high, some drivers are actually throttling back in hopes of feeling less pain at the pump, the AP reports. Vacation drivers and truckers alike are heeding experts’ advice that cars are... More »

Planes Slowing Down to Save on Fuel Costs

Airlines save millions by adding extra minutes to flights

(Newser) - As airlines feel the pain of higher energy prices, planes are slowing down to save fuel, the AP reports. Southwest, for instance, will save $42 million by adding a few minutes to each flight this year, and passengers are unlikely to notice. But it’s no cure-all: Labor costs go... More »

Shutoffs Loom as Heating Costs Spiral

With record number behind on bills, federal grants fall short

(Newser) - As heating-fuel costs climb, millions of Americans are behind on electric and gas bills—and a record number will face a shutoff over the next 2 months, the New York Times reports. A federal grant program to help beleaguered consumers keep the heat on covers just 35% of a winter's... More »

Delta Posts $6.39B 1Q Loss

Rising fuel costs bring airline to massive downturn despite sales increase

(Newser) - Staggering fuel prices overwhelmed a 12% sales increase and pushed Delta Air Lines to a $274-million loss in the first quarter, which ballooned to $6.39 billion on a $6.1-billion non-cash charge reflecting a decline in its market value. Excluding special items—including the bankruptcy-related charge—the airline lost... More »

United and Continental May Be Next to Merge

Delta-Northwest deal likely to spark more consolidation

(Newser) - The Delta-Northwest merger will create the world's biggest airline—but that title could fall before the ink is even dry on the deal as industry pressures force other carriers into shotgun weddings, the Houston Chronicle reports. Analysts believe United and Continental would be a good match and a deal between... More »

Delta, Northwest Approve Merger

Execs forging ahead without pilot approval

(Newser) - Delta and Northwest Airlines execs agreed today to merge their companies into the world's largest airline, the New York Times reports. Delta CEO Richard Anderson will lead the new company, called Delta, if Northwest shareholders approve the transaction. The $3.1 billion deal would give Northwest shareholders 1.25 Delta... More »

Kite Ship's Maiden Voyage a Success

Sails allowed cargo vessel to use 20% less fuel during trip

(Newser) - Environmental concerns might get shipping companies to go back to the future, Earth2Tech.com reports, after a cargo vessel recently used 20% less fuel than normal on a 12,000-mile journey by a kite-like sail. The EU contributed $1.9 million to help rig the Beluga SkySails with the 1,... More »

Delta Will Slash 2K Jobs

Firm will offer voluntary severance to 30,000 employees

(Newser) - Battered by skyrocketing fuel prices, Delta Air Lines will eliminate 2,000 jobs to cut costs, the Atlanta Journal-Constitution reports. With oil prices driving the airline’s fuel expenditures $900 million higher than expected, the carrier will offer buyouts to some 30,000 employees, aiming to cut 1,300 flight... More »

Consumer Spending Stalls Again

Confidence is falling as inflation rises

(Newser) - Consumer spending rose more than expected in January—but only because prices did so as well, Bloomberg reports. Adjusted for inflation, spending remained flat for the second straight month. With fuel costs rising, banks restricting loans, and property values falling, “consumers are clearly hard-pressed to maintain their standard of... More »

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