Iran expects to exert economic pressure on the United States by provoking a rise in oil and fuel prices ahead of the November midterm elections.
As reported by FinFly.News citing The New York Times, higher fuel prices increase pressure on the US administration, as the economic situation remains one of the key concerns for American voters.
According to the publication, the average price of diesel fuel in the US has exceeded $5 per gallon, which is 33% higher than the level recorded before the start of the war in the Middle East. In some states, including California, the price reaches $5.5 per gallon.
According to the US Bureau of Labor Statistics, inflation in June was 3.5%, despite a slowdown in consumer price growth amid lower oil prices.
As NYT notes, in addition to the Middle East conflict, the rise in fuel prices is driven by high refinery utilization, low fuel inventories, and seasonal growth in gasoline demand.
Recall that earlier, world oil prices fell after the US paused strikes on Iran.