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Smuggling, hoarding, no cars: World reacts to war fuel shock

David Levitz
March 23, 2026

Fuel prices have yo-yoed, depending on how the Iran war is perceived by markets. But consumers around the world are already feeling the impact of higher prices at the petrol pump.

https://p.dw.com/p/5AxZ1

Crude oil prices have risen more than 50% since the start of the war. Normally, about one‑fifth of the world's oil passes through the Strait of Hormuz, but Iran has been blocking the waterway for weeks since the US‑Israel war with Iran started.