US Concerned About Political Impact if Petrol Prices Exceed 3 US Dollars

Washington DC (ANTARA) - The United States administration is concerned about the political impact if petrol prices exceed 3 US dollars (approximately Rp51,300) per gallon, Politico media reported on Monday, citing a source. “If we do not see petrol prices at 3 dollars per gallon, we will be hit,” said a source close to the White House, as quoted by Politico. The report mentioned that strategists inside and around President Donald Trump’s administration are aware of how the energy market situation is likely to evolve as the US enters the election season this autumn. Earlier on the same day, Trump stated that Energy Minister Chris Wright was wrong when he said petrol prices in the US might not fall until next year. When asked when prices would drop, the president replied “as soon as this ends.” On Sunday, Wright stated that petrol prices are unlikely to return to pre-Iran conflict levels this year. On 28 February, the US and Israel launched attacks on targets in Iran, including in Tehran, causing damage and civilian casualties. Iran then retaliated by attacking Israeli territory and US military facilities in the Middle East as self-defence. This escalation nearly halted traffic in the Strait of Hormuz, a vital shipping route for oil and liquefied natural gas from Persian Gulf countries to global markets, thereby driving up fuel prices. On 7 April, Washington and Tehran announced a two-week ceasefire. Follow-up talks in Islamabad ended without results. Although there was no announcement of renewed hostilities, the US began imposing a blockade on Iranian ports.