Iran Tells US to Accept Defeat as Fuel Prices Soar
Iran's Deputy Foreign Minister Kazem Garibabadi has urged the US to accept defeat, stating that the Strait of Hormuz will remain under Iran's control until the US acknowledges its defeat. In response, President Donald Trump has told Americans to prepare for continued high fuel prices as a result of the ongoing war.
According to Reuters, the conflict between the US and Iran has resulted in higher gasoline prices, with the average price of a gallon in the US increasing by 29% over the past year. The current price is around $4.08 per gallon, with crude oil futures rising $1 per barrel on Friday.
The Iranian government has also accused the US of imposing sanctions and blocking its ports, leading to high inflation rates. Meanwhile, President Trump has promised additional measures to inflict financial damage on Iran, with new measures set to be announced next week.