US Gasoline Prices Surge Amid Tensions in Strait of Hormuz

According to the International Desk of Webangah News Agency, news reports from The New York Times, citing Mehr News Agency, indicate that the price of oil has risen concurrently with the alleged re-imposition of a blockade on Iranian ports in the Strait of Hormuz by U.S. forces.

The New York Times reported that this assertion by the United States has significantly slowed maritime traffic in this vital waterway. This development occurred as oil prices experienced a notable jump, reaching their highest level in a month and surpassing $87 per barrel. Consequently, gasoline prices in the U.S. rose again on Wednesday, with the American Automobile Association reporting a 3-cent increase to a national average of $3.89 per gallon, up from $3.80 the previous week. This marks a 31 percent increase in costs for drivers since the commencement of hostilities.

Gasoline prices do not always move in lockstep with crude oil, often lagging by several days after price adjustments. The average price of diesel fuel in the U.S. also increased by 6 cents on Wednesday, reaching $4.94 per gallon, reflecting a 31 percent rise since the conflict began.