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Energy Sec. Sharon Garin
MANILA, Philippines — Motorists should brace anew for a surge in fuel prices after Iran and the United States resumed hostilities in the Strait of Hormuz, a critical maritime route for energy trade.
“We [will] have increases … I think that will again spike prices more than anything else, because anything that happens there affects prices,” Energy Secretary Sharon Garin told reporters on Thursday.
Jetti Petroleum president Leo Bellas said he also expected global oil prices to go up after renewed attacks between the United States and Iran.
