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US Petrol Prices Surge Amid Iran Conflict: America's Two-Front Dilemma Drives Up Oil Costs
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US Trapped: Iran War Hikes Fuel Prices, America Seeks India's Help for Oil Stability
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News18
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07-03-2026, 12:14
US Trapped: Iran War Hikes Fuel Prices, America Seeks India's Help for Oil Stability
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US economy hit by Iran war; daily spending and surging petrol/diesel prices impacting citizens.
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Petrol price in US rose to $3.32/gallon (11% up), diesel to $4.33/gallon (15% up) in a week.
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Global oil market turmoil due to threats in Persian Gulf and Strait of Hormuz, affecting 20% of world's oil supply.
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Crude oil prices soared: US crude reached $90.90, Brent crude hit $92 per barrel, highest in months.
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US allowed India a 30-day exemption to buy Russian oil to stabilize global prices, reversing previous tariffs.
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