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Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
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Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

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.

  • United States
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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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