The average price of petrol in the United States has surged to $4.48 per gallon, a 31-cent increase in just one week, driven by the ongoing US-Israel war on Iran which has affected crude oil supply through the Strait of Hormuz. Despite a temporary dip in prices following a ceasefire announcement, petrol costs have continued to rise due to persistent supply constraints. Experts warn that until oil flow stabilizes, prices are likely to remain elevated, impacting inflation and economic conditions.
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