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US Embassy in Syria: Barrack and Abdi discussed practical steps toward integration into a unified Syria and agreed that the time for unity has come
US Embassy in Syria: US Special Envoy to Syria Thomas Barrack met today with the commander of the Syrian Democratic Forces, Mazloum Abdi
US Embassy in Syria: Barrack-Abdi meeting discussed the current situation in Syria and the need to take urgent steps to restore stability
Al-Hijri: We call on the guarantor states of the ceasefire agreement to fulfill their pledges to halt this attack and impose direct international protection for the Druze of Syria
Al-Hijri: It is unfortunate and shameful that the other party is not abiding by the ceasefire and that the hostile gangs continue to commit shameful crimes
Spiritual Leadership of the Druze Unitarian community, headed by Sheikh Hikmat al-Hijri: We call on the guarantors of the ceasefire in Sweida to shoulder their responsibilities
Al Mayadeen's correspondent in South Lebanon: One was killed in the raid carried out by an Israeli drone on a motorcycle in the town of Yohmor al-Shaqif
Al Mayadeen's correspondent: 62 martyrs killed by IOF in Gaza since morning, including 32 aid seekers.
Reuters: More than 20 injured in Los Angeles, including four critically, after a car rammed into a crowd
NNA: A civilian was killed in a drone strike while fixing plumbing on a rooftop in Matal al-Jabal, on the outskirts of al-Khiam

Gasoline prices in US reach new peak: $4.25

  • By Al Mayadeen Net
  • Source: Agencies
  • 9 Mar 2022 20:21
  • 1 Shares
3 Min Read

Fuel prices are deeply affected by the banning of Russian oil imports in the US.

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  • Gasoline prices in US reach new peak: $4.25
    Gasoline prices will only go up with this sanction frenzy. 

According to the American Automotive Association, the price of gasoline in the US has seen a record high for the second day in a row, reaching $4.25 a gallon as the sanctions against Russia imposed yesterday by Biden affect Russian energy prices. 

On Tuesday, the average price of gasoline increased 8 cents overnight from $4.17 to $4.25 after Washington announced a ban on Russian energy imports. 

This week, $4.25 constitutes the highest peak since Monday, which saw $4.065 a gallon. A week ago, the price was $3.619.

An ex-US colonel and the vice president of the Eurasia Center, Earl Rasmussen, said that Biden's decision to sanction Russian energy imports will backfire against the US economy, predicting the fuel to skyrocket in prices in the near future. 

“I have heard gasoline estimates between $7 and $10 per gallon by the end of the summer. Price of oil may skyrocket to nearly $300 per barrel, maybe more,” Rasmussen said.

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“A point to note is that Russia has yet to announce counter-sanctions which will likely be ahead and will not be good. Buckle up for a potential catastrophic global economic collapse.”

Read more: MBS and MBZ decline calls with Biden, pressure US amid oil turmoil

French Le Pen: Ban on Russian oil to have long-term impact on France

The National Rally's party leader Marine Le Pen opposed on Wednesday banning Russia's energy imports, justifying her opposition by saying that an embargo would hurt the French economy more than the pandemic did.

In a bid to paralyze the Russian economy, US President Joe Biden announced on Tuesday a decision banning Russian oil, natural gas, and coal imports to the US in response to Russia's special military operation in Ukraine. The UK followed suit, halting imports of Russian oil and petroleum products as of 2023.

Answering the France 2 broadcaster's question on whether Europe must abandon natural gas and oil imports from Russia, Le Pen said "no," explaining that such a decision would impact the people and economy of France for a long time.

"To use this leverage means to severely punish the people of France, French companies, the French economy, which may need years to recover. The effects could be much worse than those of the pandemic," Le Pen said.

She added that sanctions should be chosen in a way that would not target France's purchasing power and economic activity.

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As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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