American citizens are paying the price of war, inflation has broken their backs, petrol and diesel are expensive.

The impact of the ongoing tension and war-like situation with Iran is now clearly visible on America’s economy and the pockets of common people. The most pressure is being felt due to rising fuel prices. Both petrol and diesel have become expensive, due to which the cost of transportation, agriculture and industrial activities is increasing rapidly. This is the reason why the impact of inflation has now directly reached the common citizens. There has also been a huge rise in the prices of jet fuel, which has made air travel expensive.

Average price of petrol increased in America

The average price of petrol in America has increased to $ 4.09 per gallon, which is one of the highest levels in the last few years. At the same time, the price of diesel has also increased significantly compared to a year ago to $ 5.53 per gallon. Diesel is used in many important sectors like farming, construction and transport. Therefore, the effect of increase in its price is being seen on a wide scale.

Rising costs have also affected the big corporate sector. E-commerce company Amazon has decided to impose an additional fuel and logistics charge of 3.5 percent on its third-party sellers from April 17. The company says that till now it was bearing the increased cost itself, but in the current circumstances it is not possible to do so. Similarly, the US Postal Service has also prepared to impose a temporary fuel surcharge on parcel and express delivery. Apart from this, other logistics companies have also increased their charges.

Air travel was also not untouched by this. Due to cost of jet fuel, airlines have started increasing ticket prices. However, the interesting thing is that despite the increase in prices, the demand of passengers has not decreased significantly.

What is the major reason for the crisis?

A major reason for this entire crisis is the tension created in the Strait of Hormuz, through which a large part of the world’s oil passes. Experts believe that if this situation continues for a long time, it could have a serious impact on the supply chain. Economic experts have warned that due to increase in transportation costs, prices of other goods will also increase, which may further increase inflation.

At present, the inflation rate in America seemed relatively controlled, but due to the rise in oil prices and the impact of the war, it is expected to increase further. Many experts believe that inflation may reach 4 percent or more in the coming time, which will further increase the economic challenges for the common people.