Iran Defies US as Gas Prices Soar Amid Ongoing Conflict

Iran's Deputy Foreign Minister Kazem Gharibabadi issued a stern warning to the US on Saturday, stating that the Strait of Hormuz will remain closed under Iran's command until the US accepts defeat. The conflict between the two nations began in February when the US and Israel launched an attack against Iran.

The price of gasoline in the US has increased 29% over the past year, with the average price reaching $4.08 per gallon on Friday. President Donald Trump told a rally that paying slightly higher prices for gasoline is worth it to prevent 'a very evil country' from acquiring nuclear weapons.

Tehran has blamed high inflation on a US blockade of Iranian ports and sanctions on Iran's oil exports. The UK Maritime Trade Operations Centre reported that a bulk carrier was struck by an unknown projectile in the strait, while the UAE accused Iran of attacking one of its vessels.