In just four days, diesel prices have climbed by 20 cents, while gasoline has increased by 16 cents. The spike is linked to Iran closing the Strait of Hormuz, a strategic maritime route where 20% of the world's oil circulates.
“"Prices will likely continue to rise tomorrow. However, we have more supply diversification now than during the Ukraine war."
Despite the tension, industry experts believe the price hike will peak by the end of the week. Current dependence on Persian Gulf oil is estimated between 10% and 20%, reducing the overall impact compared to previous energy crises.
