New york: U.S. oil prices surged to their highest level in nearly four years as retail fuel prices in the United States climbed sharply on Tuesday. This increase coincided with the stalling peace negotiations between the U.S. government and Iran.
According to Thai News Agency, data from the American Automobile Association revealed that the average price of regular gasoline in the United States has reached $4.18 per gallon, or approximately 38.60 baht per liter. This marks the highest level since April 2022 and represents the largest single-day increase in over a month.
Brent crude oil prices, serving as the benchmark for global oil prices, have experienced an upward trend, rising six times in the past seven trading days. The prices currently stand more than 40 percent higher than before the U.S. and Israel launched attacks on Iran in late February. The ongoing conflict in the Middle East continues to exert significant pressure on global energy markets.