US Petrol Prices Surge Amidst Global Energy Market Instability

Kathmandu. Due to the instability in the global energy market after the start of the war with Iran, petrol prices in America have increased excessively. According to the latest details, petrol prices have increased by approximately 50 percent, and in just one week, the average price has reached $4.48 per gallon, an increase of 31 cents per gallon. This has greatly affected daily living and transportation expenses.

According to experts, the main reason for the price increase is the global energy crisis, in which the supply and distribution system of crude oil has been severely affected. The supply chain has been disrupted due to the inability of oil tankers to move in the Strait of Hormuz, a critical sea route in the Persian Gulf. Since about one-fifth of the world's crude oil reaches the international market through this route, the disruption here has had a global impact.

Earlier, in April, when the war showed signs of calming down, optimism spread in the market, and petrol prices also decreased for some time. However, as the conflict intensified again, crude oil prices started to rise again, and its direct effect has reached the petrol pumps.

Analysts have warned that if this situation continues for a long time, inflation will increase further, transportation costs will become more expensive, and more pressure will be created on the global economy. It is said that consumers may experience price increases in other goods and services as fuel expenses rise.