Diesel Passes €2/ltr in Germany over U.S.-Iran War
]The price of diesel in Germany has climbed to more than €2 ($2.32) per litre as a result of the war in Iran, the ADAC automobile association said on Wednesday.
The group said the average cost of a litre of diesel nationwide was €2.054.
Global markets have suffered significant losses in recent days following the U.S.-Israeli attack on Iran on Saturday, which has sparked a regional conflict.
Oil and gas prices have surged after Tehran restricted shipping through the Strait of Hormuz, a key chokepoint for global energy trade.
Around one-fifth of the world’s daily oil shipments pass through the strait between Iran and Oman.
U.S. President Donald Trump said on Tuesday he intends to secure shipping traffic in the Strait of Hormuz with the U.S. Navy if necessary. #Diesel Passes €2/ltr in Germany over U.S.-Iran War Oil Prices Projected to Rise Amidst U.S.-Iran War
The post Diesel Passes €2/ltr in Germany over U.S.-Iran War appeared first on MarketForces Africa.