New York: Gasoline prices in the United States have surged by more than 50% since the war involving Iran began, marking an unprecedented spike, according to reports.
The disruption is linked to the Strait of Hormuz, a key maritime route associated with Iran through which a significant share of global crude oil shipments move. The strait has reportedly been blocked, leaving oil tankers stranded mid-route.
As supplies tightened, several countries saw shortages and higher fuel prices. In the US, the price of a gallon of gasoline has climbed to about Rs 422; one gallon equals 3.785 litres.
The current level is said to be over 50% higher than before the conflict began. To curb the impact, some states such as Georgia and Kentucky have moved to temporary measures including suspending gasoline taxes.
