Oil prices have now hit a four year high following the news that the US military prepares to brief President Donald Trump about fresh potential action against Iran.
Since the US and Israel launched the war against Iran, oil prices have dramatically increased, and they continue to rise - with prices now the highest since 2022.
Oil is now said to have briefly surpassed $126 a barrel, with Brent crude rising by almost 7% overnight, reaching $126.41 per barrel before falling to $116.3 a barrel.
It comes as peace talks have stalled, as oil and natural gas shipping channel Strait of Hormuz, remains closed.
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Earlier this month, Donald Trump spoke about the possibility of gas prices dropping, but from recent news, it doesn't look like this will be anytime soon.
When asked about the possibility of oil prices dropping, Trump told Fox News: “I hope so. I mean, I think so. It could be, it could be. Or the same. Or maybe a little bit higher. But it should be around the same, I think this won’t be that much longer."
Here are the countries with the highest gas prices, as per U.S. News.
Hong Kong
Coming in at number 1 is Hong Kong. Hong Kong is the third-ranked global financial centre, and it's recently been named the country with the most expensive gas in the world. Those filling up in Hong Kong will have to pay a hefty $15.37 per gallon. Yikes!
Malawi
Next up is Malawi. Malawi, based in East Africa is said to be one of the world's least developed countries. However, they rank at number 2 for the most expensive country for gas, with the average price coming up at $10.83 per gallon.
Norway
Third, and the most expensive European country is Norway. Those hoping to fill up in the major oil exporter will be looking at a price of around $10.37, just trailing behind Malawi.
Denmark
In a close fourth place, is fellow Scandinavian country, Denmark. Those hoping to fill up there will be looking at paying just over $10 per gallon, with the average price coming up to $10.03.
Netherlands
In fifth place is another European country, the Netherlands, or commonly referred to as Holland. Residents in the Netherlands are looking at paying a hefty $9.91, although it's the only country in the Top 5 still below the $10 mark!
There are still some countries, however, believe it or not, with cheap fuel with the cheapest starting at 9 cents per gallon - as of March 23. Here's the 10 countries you can get fill up for less than $2 per gallon!
- Libya - 9 cents
- Iran - 11 cents
- Venezuela - 13 cents
- Angola - $1.24
- Kuwait - $1.30
- Algeria - $1.42
- Turkmenistan - $1.62
- Egypt - $1.73
- Kazakhstan - $1.92
- Qatar - $1.97
Topics: Iran
Kiesha Dosanjh