With the outbreak of the war in the middle east which has seen the total blockage of the strait of Hormuz. It natural that the price of oil and it refined product such as gas go up in price. This is expected because war is one thing that has it negative effects and in this case Iran has successfully made sure that every part of the world experience a hike in price of oli which in turn has translated to an increase in petroleum products.
Until there is a peace deal on the table, which I know will include the opening of the strait of Hormuz which is critical to oil in the world we should be ready for a hike in price of oil.
If other countries in middle east are involve in fresh war then it's possible that the price of oil will increase but if Iran and US should continue their battle, the pump price wouldn't make any difference. I don't know what's happening in the global oil market but the pump price of oil here has only been reduced by less than few cents, I'm not sure if they are waiting for the old stock to finish so they can make fresh stock at low price, nothing has changed.
The peace between Iran and US has not been fruitful, the US are making demands to subject Iran to hard labour on their money that was seized, they want them to spend their money on their farmers and I'm like who gave them this useless advice. First, the money belongs to Iran and was never gotten under any form of practice, why give them conditions to spend the money and you want peace. Sometimes I feel Trump want to make even peace a strategy to think he is the king that has a say.
