The war in Iran has caused a spike in gas prices that is hitting California consumers especially hard, according to data from the American Automobile Association (AAA).
AAA reports that in California, the most expensive US market for gas, the average price per gallon on Monday was $5.20, compared with $3.47 nationally. The national average climbed nearly $0.50 since the conflict began more than a week ago, while in the Golden state it rose by $0.55.
Since the US and Israel launched attacks on Iran on 28 February, leading to intensifying violence across the Middle East, the price of oil surged to more than $100 a barrel for the first time in nearly four years. The conflict has damaged oil and gas facilities and stranded ships carrying roughly 20m barrels of oil a day in the Gulf.
About 20% of the world’s oil is shipped through the strait of Hormuz every day but the channel has essentially been closed for the last week.
That calculation also likely assumes electricity prices stay the same for a decade. If electricity prices increase, your payback date arrives sooner.
True. Something I hadn’t taken into consideration. We’ve got a couple data centers coming up over the next couple years on my power grid. They’re for sure going to increase costs.
DCs are like roaches these days. If you see two going in, there are probably ten more than you don’t know about also going in.