By Larry Felton Johnson
According to the AAA fuel prices page, the average price of a gallon of regular unleaded gasoline in Georgia edged past $4 overnight. Cobb County prices matched the statewide price rise, and the national average rose to $4.31.
The regional conflict centered on the Iran War escalated over the past few days, with the Iran-aligned Houthis capturing the entire Red Sea coast in Yemen, potentially blocking a crucial route that served as an alternative to the Strait of Hormuz.
According the the Wall Street Journal, U.S. officials also verified that satellite images were provided by “Chinese entities” that resulted in the death of three of three U.S. troops in July. The officials stopped short of stating that the “entities” were acting on orders of the Chinese government.
Also, the Saudis shut down an oil pipeline after it came under drone attack. This pipeline had been bypassing the Strait of Hormuz by transporting oil to ports on the Red Sea. The drone attack originated from Iraq.
Brent crude, the benchmark for international oil prices, settled at $104 per barrel as of this writing.
To read an article from the Courier on how an expert in the international oil trade expects the war in the Persian Gulf region to affect gasoline prices here, follow this link.