Iran War
US petrol prices 50 percent higher than before war on Iran
✦ AI Brief
The price of regular petrol has climbed to an average of $4.48 per gallon, a 50 percent increase since the US-Israel war on Iran began. The global energy crisis caused by the war has sent the price of crude oil soaring, with the Strait of Hormuz blocked, stranding oil tankers and unable to deliver crude. This has led to a fundamental shortfall in meeting global demand, driving up petrol prices. The spike in energy prices is spurring inflation and economic uncertainty.