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BREAKING
Israeli media: Intense US efforts are being made to resolve differences, such as the issue of the Israeli presence on Mount Hermon and in southern Syria
Israeli media: The security agreement means amending the disengagement agreement, which will also address the Druze issue
Israeli media: Attempts to reach a security agreement between 'Israel' and Syria were among the topics discussed at the Paris meeting
Israeli media: Sheikh Muwaffaq Tarif rejected a US proposal to join the recent tripartite meeting between Tom Barrack, al-Shaibani, and Dermer
Saba News Agency: Two martyred, five injured in a preliminary toll of the Israeli aggression on the Yemeni Oil Company station on Al-Sitteen Street in Sanaa
Senior Yemeni military source to Al Mayadeen: We observed a state of confusion among the enemy's aircraft squadron after Yemeni air defenses intercepted the attack
Senior Yemeni military source to Al Mayadeen: The Yemeni air defense forces succeeded in neutralizing a squadron of enemy aircraft and prevented airstrikes on some governorates
Senior Yemeni military source to Al Mayadeen: Our air defenses and missile forces forced a formation of enemy aircraft to flee the airspace
Member of the Ansar Allah Political Bureau, Mohammed al-Bukhaiti: The Israeli aggression on Yemen will not deter us from continuing to support Gaza, no matter the sacrifices
Al Mayadeen's correspondent: The Israeli aggression targeted the Yemeni Oil Company station on Al-Sitteen Street, southwest of the capital, Sanaa, with several raids

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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Russia & NATO

Russia & NATO

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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