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US‑Iran clash lifts global fuel prices and stokes market worries
Escalating military tensions between the United States and Iran have pushed Brent crude above $90 a barrel, prompting sharp increases in gasoline and diesel prices worldwide. In the United States, the average pump price for gasoline rose above $4 per gallon, while Turkey announced an additional 1.12 TL per litre rise for motor fuel, taking prices in Istanbul, Ankara and İzmir past 75 TL per litre. Germany’s government said it will not introduce new relief measures after the expiration of a temporary fuel‑price subsidy, noting that prices have climbed for eight consecutive days. The conflict has also disrupted shipping routes: vessels avoiding the Strait of Hormuz and the Red Sea face heightened risk after Houthi threats and Iranian attacks, reducing tanker traffic and driving freight rates to historic highs. Analysts warn that continued unrest could further tighten diesel supplies in Europe and keep oil‑derived consumer prices elevated.