US Consumers Paying the Most for Fuel Price Spikes From Iran War, Study Says
4 Articles
4 Articles
DUE to the war with Iran and the blockade of the Strait of Hormuz, American consumers are paying the highest fuel prices in the world, an average of $471 more, according to a study by the Finnish organization CREA.
US consumers paying the most for fuel price spikes from Iran war, study says
WASHINGTON, Oct 26 (Reuters) - US consumers are paying more than anyone in the world for the jump in fuel prices caused by supply disruptions resulting from the US war on Iran, including the virtual shutting and then blockade of the Strait of Hormuz,...
According to CREA's analysis, the global oil shock originating from the Strait of Hormuz has made the U.S. the country most affected by the increase in fuel costs. The U.S. fuel bill increased by $160 billion, accounting for one-third of the $468 billion global additional cost.
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