Expert: US-Israeli strikes against Iran will lead to higher gas prices here

By THE STAR STAFF

International affairs expert Lajos Szászdi León-Borja warned Monday that the recent US-Israeli military strikes against Iran could have worldwide economic consequences, including higher gasoline prices in Puerto Rico and increased costs for goods imported from China.

“The rise in oil prices for China will be seen if it has to purchase oil from other places such as Canada or the United States at market prices,” Szászdi said in a radio interview. “If they no longer have access to Venezuelan and Iranian oil, the Chinese will have to pay more for oil, which could translate into higher prices for their export products.” 

He also noted that gasoline prices could rise due to the closure of the Strait of Hormuz.

In a dramatic escalation of Middle East tensions, the United States and Israel launched what they called “major combat operations” against Iran early Saturday, urging Iranians to overthrow their clerical leadership. The joint campaign, named “Epic Fury” by the U.S. and “Lion’s Roar” by Israel, resulted in the deaths of Iran’s supreme leader Ayatollah Ali Khamenei and several senior officials, according to official sources.

The aerial assault came just two days after U.S.-Iranian nuclear talks ended without a deal. In response, Iran launched a series of counter-attacks throughout the Middle East, calling the operation an “unprovoked, illegal” act of aggression.

Szászdi called the weekend’s events the beginning of a large-scale war. 

“This is not a short-lived conflict like the 12-day clash last year,” Szászdi said. “With the scale and intensity we’re seeing now, there is a real risk this war could spread even further as long as the U.S. and Iran have the means to continue fighting.”