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Iran, Oil and Strait of Hormuz

Posted by admin | 29 February 2012

Get ready for the price of petrol & diesel to skyrocket.  If this happens you could be looking at paying in excess of $3.00 a litre.  This is bound to hurt the average person quite significantly so start looking at your options and think about gas for your car!!!
 
Strait of Hormuz, for the uninitiated, is the narrow passage connecting the Persian Gulf to the Arabian Sea, surrounded by countries like Saudi Arabia, Iran, UAE, Iraq and Oman. It is significant for the simple reason that about 17m barrels of oil produced in the Middle East is transported through the Strait. Right now, the strait is in dire […]
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