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BP doubles its profits as Iran war elevates oil prices

28 April 2026 at 21:07
BP earned $3.2 billion in the first quarter, the energy giant reported Tuesday — an exponential increase in its profits that beat market projects amid the rising cost of oil due to the Iran war. It’s the company’s highest profit in three years and first reported sign of growth under CEO Meg O'Neill, who was...

Gas prices at highest level since beginning of Iran war

28 April 2026 at 16:26
The average cost of gas in the U.S. on Tuesday reached its highest level in four years — a result of skyrocketing energy prices triggered by the U.S.-Israeli conflict with Iran. The national average reached $4.18, a 40-percent jump since the conflict began on Feb. 28, according to data from AAA. States in the West...

Poultry up slightly, beef cheaper but overall food prices remain controlled, says economy minister

28 April 2026 at 11:29

Malay Mail

KUALA LUMPUR, April 28 — Selected food prices in Malaysia remain broadly stable, with cost-of-living pressures still contained despite early signs of rising input costs, Economy Minister Akmal Nasrullah Mohd Nasir said today.

He said most food items are continuing to move within a controlled range, with only modest price changes recorded.

“For the period from 20 to 22 April 2026, selected food prices remained on a controlled trend, with price changes kept below 10 per cent,” he said in an online global supply briefing today.

He said the average price of standard chicken rose by 3.3 per cent to RM9.70 per kilogramme, while Grade C chicken eggs increased by 7.3 per cent to RM3.93 per 10 pieces.

However, he said beef prices declined by 3.8 per cent to RM35.92 per kilogramme.

As for produce, Akmal said mustard greens increased from RM6.16 o RM6.51 per kilogramme, spinach rose by almost 5 per cent to RM5.59 per kilogramme, and fresh coconut milk increased by 3.6 per cent to RM16.41 per kilogramme. 

“This trend indicates that cost and logistics pressures are beginning to signal early stress within the domestic food supply chain.

“For this reason, monitoring cannot be confined to retail prices alone but must begin upstream, covering fertiliser, diesel, energy, raw materials, production, transportation and distribution,” he said. 

He said the government will continue to monitor and implement appropriate measures to help mitigate the impact on consumers and maintain price stability.

Economy minister: Electricity supply stable, but tariffs could rise due to global fuel swings

28 April 2026 at 10:52

Malay Mail

KUALA LUMPUR, April 28 — Malaysia’s electricity supply remains stable, but rising and volatile global fuel prices could push up generation costs and eventually affect tariffs if pressures persist, Economy Minister Akmal Nasrullah Mohd Nasir said today.

He said the main risk is not from power shortages, but the impact of fluctuating coal and gas prices on electricity production costs.

“When fuel costs such as coal and gas rise, the cost of generating electricity increases accordingly. Ultimately, this pressure may affect electricity tariffs for consumers if it is not managed carefully,” he said in an online briefing on the global supply crisis today. 

As of April 25, Akmal said Malaysia’s electricity generation mix remains heavily dependent on coal at 54 per cent and gas at 40 per cent, leaving the system significantly exposed to movements in global energy markets.

He added that coal imports in the first quarter of 2026 totalled 7.94 million metric tonnes, with full-year requirements projected at 35.99 million metric tonnes. 

“The Energy Commission is closely monitoring stock levels at power plants to ensure minimum supply requirements are consistently maintained,” he said.

For gas, Akmal said the average consumption for electricity generation in the first quarter stood at around 1,011 million standard cubic feet per day, largely supplied from domestic sources in Kerteh. 

However, he said the share of gas in the generation mix is expected to decline in July and August due to scheduled maintenance that will temporarily reduce supply to the power sector.

“In this context, the national electricity system must maintain flexibility to utilise alternative fuel sources to ensure continued stability of supply. At the same time, electricity demand is rising,” he said.

Between April 20 and 25, he said the average peak demand increased by 1.9 per cent to 20,640 megawatt (MW), compared with 20,257 MW the previous week. 

He said a new peak of 21,468 MW was also recorded on April 23, surpassing the previous high of 21,276 MW.

“This increase has been largely driven by hot weather, which has led to higher use of air conditioning in homes, businesses and workplaces. 

“As previously stated, there is a lagging effect in electricity supply, whereby the impact of rising fuel prices is only felt around two months after the initial shock,” he said. 

Akmal then went on to say that for May 2026, the cost of electricity generation is projected to rise, driven by coal prices increasing to RM21.28 per million British Thermal Unit (BTU), compared with the base price of RM19.14 per million BTU.

He then said that the government has given assurances that measures are in place to mitigate the impact on consumers, with around 7.5 million domestic users, or 85 per cent of households consuming below 600 kWh, continuing to be fully exempted from the Automatic Fuel Adjustment charge.

He urged consumers to adopt energy-saving practices, including moderating air-conditioning use, switching off unused appliances, and reducing consumption during peak hours to help ease demand and stabilise generation costs.

 

 

The omnivorous diet is waning, possibly due to high food prices in Canada, report suggests

28 April 2026 at 10:00
Canadians continue to adapt to food inflation, shifting their shopping and eating habits, according to the latest edition of the Canadian Food Sentiment Index. The spring 2026 issue of the biannual report by Dalhousie University's Agri-Food Analytics Lab shows that affordability is still top of mind. Read More
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