American consumers are facing a new increase in gasoline prices, which has risen by 6 cents, reaching $3.88 per gallon, after a period of decline. This increase is driven by escalating tensions between the United States and Iran, especially in the Strait of Hormuz.
Additionally, Washington has revoked the license for trading Iranian oil, amplifying concerns about global supply. Issues in the refining sector, including unplanned shutdowns of major refineries in the U.S., have contributed to a decrease in gasoline stocks by 1.9 million barrels.
Moreover, U.S. exports of petroleum products have reached a record level, reducing availability in the domestic market.
This price increase poses a political challenge for President Donald Trump, who has accused oil companies of excessive pricing.
Analysts predict ongoing price fluctuations, influenced by the developments of the conflict in the Middle East and the operation of refineries.
Sources
Latest News
10:33
10:09
09:55
09:51
09:27
See more news