Glacier FarmMedia COVID-19 & the Farm

Hurricane Harvey Boosts US Gasoline Prices

By Commodity News Service Canada

WINNIPEG, August 28 (CNS) – The following is a glance at the news moving markets in Canada and globally.
– Prices for US gasoline rose five percent on Monday after the worst storm in Texas’ recent history dumped massive amounts of rain on the Houston and Corpus Christi region. Gasoline futures, which reflect wholesale prices charged to gas stations, have already risen to their highest peak in over two years. Analysts say prices for gas will continue to rise in the coming days but at this point it’s impossible to say how much.

– The ride-hailing giant Uber has selected its new top executive. Dara Khosrowshahi, the former head of online travel company Expedia, replaces ousted CEO Travis Kalanick. Uber has been plagued by allegations of sexual harassment and a lax corporate culture.

– Mexico City is voicing its displease in regards to proposed changes to the North American Free Trade Agreement. The city objects to the US’s goal of eliminating a dispute-resolution model known as Chapter 19. The model allowed for the creation of panels to settle complaints over allegations of protectionism and other matters.

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