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How the Iran War and Surging Oil Prices Are Affecting Consumers at the Gas Pump and Beyond
Diesel prices rose 16% in a month to $1.64 per liter, driven by global energy disruptions linked to the Iran conflict and export restrictions from neighboring countries.
- On March 9, diesel reached $1.64 a liter, a 16% climb, amid export restrictions tightening supply, according to Ukrainian fuel market analyst group A-95 Consulting.
- Disruptions through the Strait of Hormuz after Feb. 28 triggered a global energy spike, with European natural gas benchmarks rising roughly 75% and Brent crude passing $100.
- Sea logistics surcharges rose by $4 per metric ton to $36-38, and fuel costs, representing 15% of crop production costs, added Hr 1,000, Ukrainian farm leaders said.
- The Ukrainian government has imposed price controls and monitoring to curb unjustified markups, with the central bank warning that fuel price rises threaten its 5% inflation target.
- Economists warn that U.S. crude price rising roughly 42% to roughly $95 a barrel could lift inflation toward 3% in coming months, while fuel surcharges will also rise as shippers and retailers pass costs to lower-income consumers.
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Associated Press News+12 Reposted by 12 other sources
How the Iran war and surging oil prices are affecting consumers at the gas pump and beyond
As the price of crude oil surged, consumers were feeling the effects of the Iran war and its damage to worldwide energy production. Gasoline prices are climbing.
·United States
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Iran war effect on oil prices hits Ukrainians at the pumps
The Iran war is hitting Ukrainians at the pump, as rising global energy prices ripple through the war-battered economy that is only just emerging from an energy crisis and significant bout of inflation. Diesel prices hit $1.64 a liter on March 9, according to Ukrainian fuel market analyst group A-95 Consulting, a 16% climb compared with one month prior. Petrol prices rose by 12% in the same period. "I’ve been working in this market for 25 years,…
·Kyiv, Ukraine
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Total News Sources14
Leaning Left4Leaning Right0Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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