Industry Odisha Bureau, April 11: Even though US President Donald Trump has reportedly tom-tommed that his country remains unharmed by the ripple effects of the Hormuz blockade by arch rival Iran, energy price hike and surge in inflation are reported to be the highest in USA since 2024.
Quoting the US Labour Department, media reports revealed, “Prices jumped 0.9% between February and March this year, with higher gasoline prices accounting for nearly three-quarters of that increase, while consumer prices rose 3.3% over the 12 months to March, picking up from 2.4% in February which is the biggest annual increase since May 2024”.
Media reports added that the “gas prices rose 21.2% from February to March” across the USA, while the impact of gas price hike in the American state of California was reportedly “higher than the rest of other states in America”.
Quoting the American Automobile Association, media reports also revealed, “The average cost of a gallon of gas in California was $5.93 in contrast to the nationwide average of $4.16”.
Media reports also stated that the impact of Hormuz hurdle was not so much felt at present in the USA so far the food prices were concerned, but the impact could be heard loud and clear once the costs of fertiliser as well as transportation go up, because the Strait of Hormuz is a critical chokepoint globally that paves path to the transportations of significant commodities like fertiliser, helium and other essential metals besides the crude oil.
Such a grim scenario has been triggered by the missile and drone strikes jointly unleashed by the US-Israel defence forces upon their bête noire Iran since February 28 this year killing Iran’s ex-Supreme Leader Ayatollah Ali Khamenei and several other influential Iranian leaders along with hundreds of innocent school children and civilians.
