US-Iran Conflict Drives Up Fuel Prices to Record Highs
The US and Iran have engaged in a series of retaliatory attacks over the weekend, escalating tensions in the Strait of Hormuz. On Sunday, Iran claimed to have struck an unmanned US vessel attempting to enter the strait. The US did not immediately confirm the attack.
The incident followed a US military operation on Saturday, in which American forces targeted three Iranian oil tankers. Adm. Brad Cooper, head of US Central Command, said, 'Let the message to the IRGC be clear: If you shoot at two of our ships, we will impose an even higher economic cost, taking out three of yours.'
The ongoing conflict is driving up fuel prices in the US, with the average price for a gallon of regular gas reaching $4.15, a 39% increase compared to prices at the start of the war in late February.