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Unbelievable: California gas prices hit $8 a gallon – ‘Fuelmaggedon’ looms as anger mounts against Trump

Unbelievable: California gas prices hit $8 a gallon – ‘Fuelmaggedon’ looms as anger mounts against Trump
California faces "Fuelmaggedon" – The crisis in the Strait of Hormuz sends fuel prices skyrocketing

California is facing an unprecedented energy crisis, as the conflict in the Middle East and the closure of the Strait of Hormuz have caused an explosive rise in fuel prices, leading many analysts to speak of a new "Fuelmaggedon". In areas such as Los Angeles, the price of gasoline has already reached $8 a gallon, with some stations even approaching $9. This situation is attributed to the dramatic reduction in oil imports from the Persian Gulf, as the US West Coast depends heavily on these flows.

The Middle East conflict and the Strait of Hormuz

Following the start of "Project Freedom" announced by Donald Trump, commercial ships attempted to cross the Strait of Hormuz despite escalating tensions. Attacks by Iran followed, targeting both commercial and military vessels. According to reports, a South Korean cargo ship was attacked near the Strait, while US naval forces were directly involved in the area. The American side proceeded to destroy six Iranian fast boats following attacks against US ships. At the same time, launches of at least 15 missiles and 4 drones toward the United Arab Emirates were recorded, with some hitting oil facilities in the Fujairah region, causing fires and injuries.

Escalation and the threat of general conflict

Developments have led the United Arab Emirates to warn of their right to retaliation, while the ceasefire is now considered practically inactive. Tension in the Strait of Hormuz, one of the most important energy passages globally, has caused serious disruptions in international oil markets.

Skyrocketing fuel prices in the US

The average price of gasoline in the US has already reached $4.45 a gallon, according to AAA data, recording a historic high for the period. However, the situation in California is even more extreme. In Los Angeles, prices exceed $8, with citizens speaking of "unsustainable transit costs" in an already expensive fuel market.

California in energy isolation

The situation is further worsened by the fact that the last oil tanker from the Middle East has already arrived at the port of Long Beach, with no new ships en route. The state of California covers approximately 30% of its oil imports from the Persian Gulf, a fact that makes it particularly vulnerable to geopolitical developments.

Energy dependence and political decisions

The lack of pipelines and the state's long-term energy policy have limited alternative supply sources, increasing dependence on imports. This, according to the report, intensifies the impacts of the crisis.

Prospect of further escalation

Analysts warn that even in the event of diplomatic de-escalation, the smooth flow of oil through the Strait of Hormuz will be difficult to fully restore, as Iran now seeks greater control over the passage. The continuation of tension creates serious risks for the stability of the global energy market, while the current price increase may, as noted, prove mild compared to the developments that may follow.

www.bankingnews.gr

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