US fuel prices have climbed to their highest level since the start of the war against Iran on 28 February, according to data released by the American Automobile Association (AAA).
The rise in US fuel prices comes amid continued instability in global energy markets, with no clear signs of a peace agreement to ease tensions.
Motorists in the United States are now paying an average of $4.18 per gallon (3.785 litres), marking a significant increase compared with pre-war levels. Before the conflict began, US fuel prices stood at $2.98 per gallon, representing an increase of around 40% since then.
Link to Strait of Hormuz disruption
Analysts attribute part of the surge in US fuel prices to the effective closure of the Strait of Hormuz, a key maritime corridor for global oil and gas trade.
Although most Gulf exports are directed towards Asian markets such as China and Japan, disruptions in supply have pushed prices higher worldwide, affecting consumers in multiple regions.
Lower costs compared with Europe
Despite the increase, US fuel prices remain lower than in many European countries. Converted into euros, petrol in the US costs about €0.94 per litre, compared with more than €2 per litre in countries such as Germany and Greece.
This difference is largely due to lower fuel taxation in the United States and its significant domestic oil production.
Political pressure builds
The rise in US fuel prices is becoming a politically sensitive issue for President Donald Trump, who had pledged during his campaign to halve fuel costs.
With around six months remaining before the midterm elections, that promise now appears increasingly difficult to fulfil.
The US administration maintains that the price surge is temporary, while the Energy Information Administration (EIA) warns that it could take months before fuel transport and pricing stabilise, particularly once key shipping routes fully reopen.
Source: CNA
Also read: Fuel crisis threatens summer travel in Europe
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