The average price of gas rose 11 cents to $3.11 a gallon, according to the latest AAA data. This is the largest daily increase since Hurricane Katrina in 2005.
American and Israeli attacks on Iran, as well as the subsequent closure of the strategically key sea passage, the Strait of Hormuz, led to a strong increase in energy prices. According to reports, Iran also carried out retaliatory attacks on the oil infrastructure of US allies in the region, including the United Arab Emirates, Kuwait, Qatar and Saudi Arabia, the world’s largest oil exporter.
Because of this, the world oil markets are shaken. In early trading on Tuesday, the price of US oil rose seven percent to $76 a barrel, after a six percent gain on Monday.
Tuesday’s average price of $3.11 ended a three-month streak of prices below $3 a gallon that had lasted since Dec. 1. This also means that prices are one cent higher than a year ago, and are approximately at the level they were on the last full day of President Joe Biden’s term in January 2025.
(Vijesti.ba)
