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What the Iran Conflict Means for Gas Prices

  • In June 2025, the United States and Israel conducted coordinated attacks on three key nuclear facilities in Iran, including those located near the towns of Fordow, Natanz, and Esfahan, heightening regional tensions.
  • These attacks occurred after Israel’s unexpected offensive on June 13 and before Iran’s parliament voted on June 22 to block access through the crucial maritime corridor connecting the Persian Gulf to the Gulf of Oman.
  • As of June 23, military actions have yet to impact Iran’s oil processing facilities or the movement of tankers in the critical maritime route nearby, while gasoline prices in Arizona have increased by just three cents per gallon.
  • Experts noted oil prices rose about 10% after Israel's June 13 attack but fell 4% by June 23, and the national gas price spike would likely be temporary if the Strait is closed.
  • The situation remains volatile yet contained, with analysts urging calm as Arizona’s average gas price stands at $3.28, below last year's $3.61 average.
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finanzmarktwelt.de broke the news in on Monday, June 23, 2025.
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