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The high cost of war

Mail & Guardian

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M&G 13 March 2026

As the US-Israel war on Iran continues unabated, we should brace for the pain at the pumps as fuel price hikes hit the country in the coming weeks.

As we report today, global oil prices surged past $100 a barrel this week, spurred by the Iran war and setting new inflation fires.

The war, triggered by warmongering US President Donald Trump and his Israeli henchman Benjamin Netanyahu, is wreaking havoc across global markets.

Some countries are hiking fuel prices while others prepare for shortages as reserves plummet and panic buying grips the market.

Oil price shocks have ignited new inflation across several markets. In the UK, there are calls to freeze duty to cushion families from a "Trump-made-cost-of-living crisis" as fuel is set to hit two pounds a litre.

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