Average U.S. retail gasoline prices crossed $3 a gallon for the first time since November on Monday as the conflict in the Middle East worsened, setting up a key test of public approval of President Donald Trump’s decision to attack Iran, analysts said.
Tehran’s retaliation in response to U.S. and Israeli strikes has disrupted global oil supply, as it hit production facilities in neighboring countries and ships in the Strait of Hormuz, a key global trade route. Oil prices have surged, with Brent crude rising more than 5% to nearly $77 per barrel, and fuel prices moving up in tandem with the feedstock costs.
We have too many damned US-style “trucks” here in Australia now.
Our fuel prices have just crossed the equivalent of $5 USD/gallon ($1.90 AUD/litre); it will be interesting watching people squirm at the petrol pumps when the price inevitably increases another 50% or so.
We are currently at €1.85-1.90 here. The Dutch got it worse, IIRC they are at €2.60+ per litre.