Crude oil prices rose sharply on Monday, 31 August, after US forces struck Iranian military targets, adding to pressure on motorists in California’s Bay Area.
The attack, described by US Central Command as limited action against Iranian forces preparing to deploy sea mines, targeted two rocket launchers on Larak Island in the Strait of Hormuz. It was the first known American strike on Iran since late July.
Brent crude, the international benchmark, climbed by about 3.5 per cent to more than 91 US dollars a barrel, while US West Texas Intermediate crude rose to above 86 dollars. The gains reflected renewed fears that fighting could disrupt shipments through the strategic waterway.
Iran later reported attacks against US forces in Jordan and the United Arab Emirates, raising concerns that the latest exchange could lead to further disruption in the region.
Drivers in the Bay Area were already facing some of the highest fuel costs in the United States. Figures from the American Automobile Association put California’s average price for regular petrol at $5.6896 a gallon on Monday, compared with a national average of $4.0807.
Tom Vacar of KTVU spoke to motorists who said the continuing rise in prices was making everyday journeys increasingly expensive, with the latest jump in oil prices threatening to add further pressure at the pump.
