Gas Prices Rose In Europe And Asia After US Action On Iran

Consumers in Europe and Asia have faced a sharp rise in fuel prices, with aviation fuel increasing by around 35% and gasoline by approximately 40% compared to pre-escalation levels following the intensification of tensions involving the United States, Israel, and Iran, AzerNEWS reports.

This was stated by the Director of Communications at the International Monetary Fund (IMF), Julie Kozak, during a briefing.

According to her, the IMF notes that oil price dynamics are creating a“domino effect” across the petroleum products market. As a result, inventories of jet fuel, refined petroleum products, and petrochemical feedstocks are declining, placing additional strain on global supply chains.

The escalation around Iran has also led to significant disruptions in logistics in the Strait of Hormuz - one of the world's most critical shipping routes for oil and liquefied natural gas exports from the Persian Gulf. Even partial restrictions or heightened security risks in this corridor have an immediate impact on global energy prices.

Against this backdrop, many countries are beginning to reassess their energy strategies, increasing purchases from alternative suppliers, drawing more heavily on strategic reserves, and accelerating investments in energy efficiency. Analysts warn that if instability persists, volatility in fuel markets could become a long-term structural feature rather than a temporary shock.

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