By Admin 
Middle East Tensions Impact on Gasoline: Amidst the continuous attacks on Iran, the military action of America and Israel is intensifying, while Iran is also giving aggressive response. Amidst this conflict, the fear of closure of the Strait of Hormuz, the world’s most important energy route, has created panic in the global oil market and crude oil prices have started rising rapidly. Despite this, US President Donald Trump has said that he is not worried about the rising prices of oil and gas, because military operations are more important for him at this time.
Trump is not worried about rising prices
In an interview given to news agency Reuters, when President Trump was asked about the rising prices at petrol pumps, he said that he is not particularly concerned about it. He said that once the war ends, oil prices may come down rapidly, but at the moment this war is more important than oil and gas. Due to this increasing conflict in the Middle East, there is huge turmoil in the global oil market.
Since the fighting started last Saturday, oil supplies from the region have been affected and global crude oil prices have increased by about 16 percent. According to AAA, an American organization that monitors fuel prices, petrol prices in America have increased by about 27 percent in the last one week and the average price has increased to about $ 3.25 per gallon. However, Trump says that this increase is not very much yet.
Petrol prices increased by 27 percent in America
This statement of Trump is being considered somewhat different from his earlier statements. Recently in his address he had mentioned the falling energy prices in the country. After this, in a rally related to the energy sector in Texas, he also talked about falling oil prices. Meanwhile, the government has become active regarding the rising fuel prices in America.
White House Press Secretary Karoline Leavitt said that Chief of Staff Susie Wiles and Energy Minister Chris Wright have talked to representatives of oil companies to discuss the issue of rising prices.
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