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Gasoline and oil prices in the United States have entered a new phase of growth, reaching their highest levels since the escalation of tensions with Iran in late February.
The global market is facing a prolonged pressure situation. Brent crude has crossed the $111 per barrel mark, directly reflecting supply uncertainties.
The latest data from the American Automobile Association shows that the average price of gasoline has reached $4.18 per gallon, or 3,785 liters. This level brings back scenarios from 2022, when the Russian invasion of Ukraine caused a shock in energy markets.
Before the current conflict erupted, gasoline cost about $2.98 per gallon. The difference translates into an increase of about 40 percent, and the impact on consumers is becoming increasingly noticeable, despite government statements that this is a temporary cycle.
The Strait of Hormuz has played a key role in this development. Since the clashes began, maritime traffic has been severely restricted, creating disruptions to global oil and gas supplies.
Although most exports from the Persian Gulf are destined for Asian markets such as China and Japan, the effects have spread worldwide. Reduced supply and increased uncertainty have led to price increases in many markets.
Compared to Europe, the American market remains less affected. The price per liter in the US is estimated at around 0.94 euros, while in countries like Germany and Greece it exceeds 2 euros. The difference is related to lower taxes and domestic production in the US.
However, for the American consumer, accustomed to lower prices, this increase is creating pressure and is becoming a political issue.
Analysts link Iran's strategy to an attempt to raise prices and create uncertainty in the market, with the aim of putting pressure on the US for a deal. On the other hand, the US administration is pursuing the line of economic isolation to force Tehran to back down.
Discussion of a protracted conflict in the Persian Gulf is gaining ground. Warnings from regional actors speak of serious economic and security consequences.
On the ground, the human toll remains high. Thousands of casualties have been reported, while attacks like the bombing of a school in southern Iran show the real cost of the conflict beyond geopolitical clashes.
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