Indonesian Political, Business & Finance News

US Petrol Prices Hit Highest Level Since 2022 Amid Iran Conflict

| Source: ANTARA_ID Translated from Indonesian | Energy
US Petrol Prices Hit Highest Level Since 2022 Amid Iran Conflict
Image: ANTARA_ID

Washington – Average petrol prices in the United States reached the highest level since July 2022 on Friday, according to data from the American Automobile Association cited by RIA Novosti.

One gallon (3.8 litres) of regular petrol rose by more than 9 cents in a single day and now stands at $4.392 (equivalent to Rp76,000 at an exchange rate of US$1 = Rp17,300).

According to the US Energy Information Administration website eia.gov, regular petrol marketed in the US has the lowest octane rating of 87, compared to the other two types: Midgrade (89-90) and Premium (91-94).

Since the start of military operations against Iran, prices have increased by $1.41.

A new record was set in California, where the price per gallon reached $6.06 (Rp104,800). Four other states—Washington, Oregon, Nevada, and Hawaii—also surpassed the $5 threshold.

Only in 13 states are petrol prices still below $4 per gallon, with Georgia now the region with the cheapest prices at $3.802 (Rp65,700) per gallon, replacing Oklahoma.

Earlier, on 28 February, the United States and Israel launched attacks on targets in Iran, causing damage and civilian casualties.

On 7 April, Washington and Tehran announced a two-week ceasefire.

However, follow-up talks in Islamabad ended without results, while the US began imposing a blockade on Iranian ports alongside extending the ceasefire.

Escalation of the conflict around Iran has led to a de facto blockade in the Strait of Hormuz, the main shipping route for oil and liquefied natural gas from Persian Gulf countries to global markets, thereby driving up energy prices.

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