The conflict between Israel and Iran has caused a significant increase in crude oil prices, with a jump of about 10% in one day, marking the largest daily increase in the last three years. There is a threat of blocking the Strait of Hormuz, a key route for global oil supply, which could further raise prices. In Serbia, fuel prices have increased by two dinars, due to rising prices of oil derivatives rather than crude oil itself. Experts note that while crude oil prices influence fuel prices, the effect is not always direct or immediate. Additionally, Serbia’s fuel market is not fully free, posing additional risks. Iran continues to export oil mainly to Asia, but tensions and threats to block the strait create market uncertainty.
Political Perspectives:
Left: Left-leaning outlets emphasize the geopolitical tensions and their impact on global oil markets, highlighting the risks to global energy security and the potential consequences for ordinary consumers facing rising fuel prices. They may also critique the lack of sufficient measures to protect consumers from price shocks and call for more sustainable energy policies.
Center: Center-leaning sources focus on the factual reporting of the price increases and the market mechanisms behind them, explaining the complexities of crude oil and derivative pricing. They provide balanced views on the geopolitical risks and the economic implications for Serbia, noting the partial regulation of the fuel market and the seasonal factors influencing demand.
Right: Right-leaning perspectives tend to emphasize the risks posed by foreign geopolitical conflicts on national economic stability, stressing the importance of energy independence and market freedom. They may highlight the limitations of government intervention in the fuel market and advocate for policies that reduce reliance on unstable foreign oil supplies.