California faces even higher fuel prices due to war in Iran

Ben Cahill, senior fellow at the Atlantic Council’s Global Energy Center, explained that although Californians are used to high prices, the current geopolitical crisis is putting additional pressure on an already tight market, writes Al Jazeera.

Cahill points out that high fuel prices in California are primarily the result of domestic policies.

“High prices are mainly the result of state policies, that is, taxes and regulations. In addition, several refineries in the state were closed last year, which reflects the difficulties in their operations,” he said.

The existing problems are now compounded by the conflict in the Middle East, which threatens to further escalate prices.

“I believe that Californians are already used to high prices, but it is obvious that the situation of the last few months, with the war and the closure of the Strait of Hormuz, has created considerable pressure. Therefore, prices could certainly continue to rise,” Cahill concluded.

(Vijesti.ba)