Global concerns are mounting over the crisis in the Strait of Hormuz, with new refinery pricing expected to be set tomorrow, Tuesday, in our country and market factors anticipating a new increase of 2 to 3 euro cents. Amid this climate and as anxiety remains at the “red” level, American airline SPIRIT announced its closure.
Read: Strait of Hormuz: United Arab Emirates accuses Iran of drone attack on unloaded oil tanker
The consequences of the Strait of Hormuz crisis
“All flights have been canceled and customer service is no longer available. Travelers will automatically receive refunds for flights paid with credit or debit cards, but those who made reservations using coupons, credits or points will be notified about compensation at a later date.”
The closure comes after 34 years for an airline that revolutionized the budget travel sector.
At the same time, customers at US gas stations don’t understand Trump’s optimism about future price drops:
“My car used to cost $25 to fill up. Now it costs $47 to $50”
“If we don’t see the Strait of Hormuz reopening soon, it’s likely that by Memorial Day or perhaps by July 4th, gas prices nationwide could approach $5,” experts say.
The average price of regular unleaded in the US before the war was 0.67 euros per liter, while today it stands at 1 euro per liter. Similarly, diesel fuel before the war was 0.85 euros per liter, while today it’s 1.25 euros per liter.
Greece is also experiencing economic chaos at the pump, with consumers preparing for one of the most expensive summers.
Increasing tariffs
At the same time, the US President responds with 25% tariffs on EU cars.
Greece is also experiencing economic chaos at the pump, with consumers preparing for one of the most expensive summers.
