The crisis surrounding Iran and the Strait of Hormuz continues, driving up fuel costs worldwide. And we haven't seen the peak yet, as Rystad Energy's chief economist, Claudio Galimberti, warns via CNBC (via Omni) that prices could spike in just a few months.
She believes a price increase of up to $150 per barrel is realistic, which is over 50% higher than today. SvD Näringsliv also quotes commodities analyst Christian Kopfer, who says it won't stop there, but believes we could face a doubling of prices if the crisis isn't resolved soon.
High fuel prices, of course, don't just mean higher costs for those who drive cars, but it also affect everything from shipping and food production to countless industries, so it risks becoming a significant burden for everyone.