US EditionRising Energy Prices From the Iran War Could Help Russia Pay for Fighting in Ukraine
Hostilities risk oil tanker traffic through the Strait of Hormuz, causing Mankato gas prices to rise 42 cents in late February, with diesel expected to jump up to 70 cents per gallon.
- GasBuddy data show Mankato gas prices spiked 42 cents in the second half of February, reaching $3.20 at Kwik Trip Tuesday afternoon, the highest since June 20, 2025.
- Threats to tankers in the Strait of Hormuz and Qatar's LNG shutdown have tightened fuel supplies, amplifying competition and driving price surges.
- De Haan told retailers 'It may go up another 15 to 30 cents in the next week or two' and 'And so diesel prices are set to jump by an even more noticeable 40 to as much as 70 cents a gallon in the weeks ahead'.
- Analysts say Russia's oil export prices recently rose to about $62 per barrel, boosting tax revenues that account for up to 30% of the federal budget and support the Kremlin's wartime spending.
- The EU may face calls to review bans on Russian supply after April 25 as Belgium, France, the Netherlands, and Spain import around 2 billion cubic meters monthly, totaling 45 billion in 2026.
22 Articles
22 Articles
Associated Press News
Rising energy prices from the Iran war could help Russia pay for fighting in Ukraine
Oil and gas prices are soaring after the Iran war choked off tanker supplies from the Middle East. And that's going to put more money in Russia's government coffers that it can use to pay for its own war against Ukraine.
Clean Energy Stocks Aren’t Yet Seeing a Boost From the Iran War
Current conditions: Upstate New York and New England are facing another 2 inches of snow • A heat wave in India is sending temperatures in Gujarat beyond 100 degrees Fahrenheit • Record-breaking rain is causing flash flooding in South Australia, New South Wales, and Victoria. THE TOP FIVE1. Clean energy stocks aren’t seeing a boost yet from the war in IranThe war with Iran is shocking oil and natural gas prices as the Strait of Hormuz effectivel…
‘UK households pay price of Iran war fall-out – as Putin gets windfall’
Soaring oil prices threaten to feed through to everything from the cost of food to your holiday flight 13:13, 04 Mar 2026Updated 15:11, 04 Mar 2026 Pain at the pump is the most likely immediate impact of unfolding events in the Middle East. We’ve started to see it, with the average price of petrol up by nearly 2.5p a litre since Saturday and diesel by more than 3p. There are reports of prices having rocketed 11p a litre in some places and signs…
The boom in energy prices was one of the first consequences on the markets of the US and Israel's entry into the war against Iran.
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