Gas costs in Massachusetts dropped a penny final week pushed largely by decrease costs for crude amid rising demand. But, economists warn the constructing peak of the Atlantic storm season might be an element within the weeks forward.
“Although the national average did a U-turn this week, the road ahead could lead to higher prices,” mentioned Mark Schieldrop, AAA Northeast Senior Spokesperson. “Ongoing concerns regarding potential storm activity could hinder falling pump prices this fall.”
A gallon of fuel was operating $3.76 a gallon Monday, 13 cents greater than a month in the past and a full 31 cents decrease than a yr in the past. The value on the pum is 5 cents decrease in Massachusetts than the nationwide common.
Farmers Insurance reducing 2,400 jobs
Farmers Insurance mentioned Monday it’ll lay off 11% of its workforce — about 2,400 staff — as a part of a company restructuring geared toward rising its effectivity and long-term profitability.
The California-based insurer owned by Swiss big Zurich Insurance Group mentioned the job cuts will affect all traces of its enterprise. Monday was the final working day on the firm for many staff impacted by the layoffs, Farmers confirmed.
In a press release asserting the job cuts, Raul Vargas, Farmers Group Inc. president and CEO, alluded to “existing conditions” within the insurance coverage business.
“As our industry continues to face macroeconomic challenges, we must carefully manage risk and prudently align our costs with our strategic plans for sustainable profitability,” Vargas mentioned.
Monday’s layoff announcement from Farmers follows mass job cuts seen at a handful of firms up to now yr — together with T-Mobile, Google, Meta, Amazon and Microsoft.
Source: www.bostonherald.com”