Europeans face fuel price surge
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Electricity prices could double in Europe, if power firms are to meet emissions reduction targets, says a report.
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Buoyant commodities prices underpinned a rally in European stocks on Thursday with energy and resources companies crowding the gainers list.
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BMI and Air France become the latest airlines to raise ticket prices in response to higher fuel costs.
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Local analysts said the jump in world oil prices, if sustained, could push up petrol prices another 42c/l in coming months, boosting inflation and slowing down spending in the economy.
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Higher oil and food prices push up inflation in the eurozone to its highest in more than six years.
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PARIS, Oct 22  - The French government will raise gas prices by nearly 10 percent on November 1 owing to surging oil prices, the French daily Le Parisien reported Friday.
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UK's biggest energy provider announces price rise for gas and electricity customers
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A 2p increase in the average cost of petrol, as a result of surging crude oil prices, helped push UK inflation higher in October.
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E.On becomes the latest of the big energy firms to increase prices of gas and electricity.
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The price of crude oil surged to a new intraday high of US&#36;53.42 in European trade Monday, despite assurances from Middle East oil producers that they were committed to bringing the price down as a strike began in Africa's largest exporter.
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British Airways said it would raise its fuel surcharges by up to eight pounds (11.6 euros, 14.4 dollars) per return ticket as a result of soaring oil prices.
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The high level of oil prices is posing a risk for the European economic recovery, European Union industry lobby group UNICE said.
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Europe is moving toward forcing large polluters to pay for most, if not all, permits to produce climate-changing gases.
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European airlines hoping for a 2005  industry recovery face new hurdles as record high oil prices  threaten to drive up costs and fuel surcharges for passengers,  officials said.
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Drivers in Britain are facing further increases in petrol prices after crude oil prices reached all-time highs, surging past $50 a barrel.
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Business & money: Â·  Petrol heads to Â£1 a litre for the holiday season Â·  Crude hits near-record level amid hurricane fears
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Europe's fragile recovery is being held back by the surge in world oil prices, which is limiting growth and threatening to stop key eurozone economies from restoring order to their public finances, analysts say.