Oil prices could reach up to $150: will gasoline become more expensive?

According to the Qatari Energy Minister, if more countries halt oil exports, oil prices could rise to $150. This was reported by the Financial Times.

The world is facing the largest supply loss in history: with the current transport flow through the Strait of Hormuz (a 90% decline), the market may begin to lose approximately 600 million barrels per month.

Under these circumstances, the US was forced to ease sanctions against Russia and allow Indian refineries to purchase Russian oil from floating storage facilities until the beginning of April.

For now, these processes will not affect Uzbekistan. But in the future, it can have an impact on our markets. For example, gasoline prices may rise first.

Charos Zarqarayeva

Editor of «ZAMIN.UZ»