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The US energy department has warned petrol and diesel prices are unlikely to recede to prewar levels until mid-2027 at the earliest, ratcheting up costs for industries from trucking and farming to airlines and retailers. Official figures released on Tuesday show US petrol prices rose 19 per cent over the past two weeks to $3.50 a gallon as the Middle East conflict throttled energy supplies, while diesel jumped 28 per cent to $4.86 a gallon. Petrol is not forecast to drop back below its $2.94 per gallon pre-conflict level before the end of 2027, according to the Energy Information Administration, the energy department’s statistics arm. Diesel — the lifeblood of American industry — will not fall below the $3.81 per gallon it sat at two weeks ago until the middle of next year. The shift threatens to push up costs for industry, which in turn will ratchet up prices for consumers with far-reaching inflationary impacts for the world’s largest economy. It will also pile pressure on Donald Trump, who campaigned for the presidency in 2024 on a platform to slash petrol and energy costs. Prices at the pump are now higher than at any time during his two terms in office. “We’ve got a lot of costs moving their way through the system,” said Tom Kloza, an independent oil analyst. “We’re looking at some really scary inflation ratings — pervasive inflation throughout the country.”

The rise in the price of refined fuel products in the US comes as Iran’s threats to strike ships traversing the Strait of Hormuz have all but halted maritime traffic in an artery through which roughly a fifth of global oil supply flows. That has prompted crude prices to surge, with West Texas Intermediate, the US benchmark, rising from $61 a barrel before the conflict started to a peak of almost $120 in intraday trading on Monday before falling back. The US benchmark fell 11.9 per cent to $83.45 on Tuesday. But the impact on fuel prices is set to endure, with sweeping implications for American business and consumers. The trucking industry, among the most exposed to diesel price fluctuations, said companies would pass much of the increase on to consumers. “Higher diesel costs . . . remain one of the trucking industry’s largest expenses,” said Bob Costello, chief economist at the American Trucking Associations. “Luckily, most carriers have fuel surcharges so they recoup much, although generally not all, of those expenses from their customers.” Brian Wanner, owner of trucking group Peters Brothers, said there was “no way” his business could survive without the surcharge. “Margins are slim in this industry and trucking has been struggling for the past three years, so if you’re not protected it’s not good,” said Wanner, whose business uses more than 1mn gallons of fuel a year.

For farmers, the rise in fuel costs comes just as the industry prepares to plant corn and soyabeans — important inputs to the food, livestock and biofuels industries. “Farmers [are] facing increased volatility in fertiliser and fuel prices as well as some reports of companies freezing fertiliser sales,” said Zippy Duvall, president of the American Farm Bureau Federation. In the US, diesel accounts for a relatively small part of a farmer’s budget, said Gary Schnitkey, professor of farm management at the University of Illinois, but it will feed through to other costs given its use to run farm equipment and haul crops. “So transportation costs and the costs of other products will go up. It will cause another round of inflation in input prices,” Schnitkey said. Other industries will also be affected as companies with fleets of vehicles deal with the impact of higher petrol and diesel prices. Bill Fehrman, chief executive of American Electric Power, one of the largest US utilities, said his company’s response team had pinpointed its large fleet of vehicles as the biggest risk. “We’ll go through about 10mn gallons of fuel a year, trucks and various other equipment that we have to have to service our customers,” he said. “So basically, for every 10 cents change in fuel costs, it’s a million dollars . . . on average over a year.” Meanwhile, retailers are exposed to higher fuel costs directly through their logistics networks and indirectly by the squeeze it places on the disposable income of some consumers.

Chains with stores spread across far-flung rural areas were particularly exposed, said Simeon Gutman, a retail analyst at Morgan Stanley. “Pretty soon, there’s probably going to be some pullback” in spending, particularly among middle and lower-income consumers, he said. Other refined products have also surged in price. Jet fuel rose almost 60 per cent to $3.95 a gallon in the days after the US and Israeli military strikes, according to the Argus US Jet Fuel Index, falling back to $3.67 on Monday. With fuel costs accounting for roughly a quarter of operating costs under normal market conditions, United Airlines CEO Scott Kirby last week said the increases would have a “meaningful” impact on the carrier’s first-quarter results, warning that the impact on ticket prices would “probably start quick”. Dan Akins, an aviation economist with Flightpath Economics, said that while airlines were “worried about subsidising travel for people who bought tickets when fuel prices were low”, they were also wary of sharp ticket price increases leading to demand destruction. Shares in the Detroit carmakers also fell this week amid concerns that higher petrol prices would hit demand for trucks and SUVs.

The rise in prices at the pump will affect consumers more directly, with studies suggesting poor Americans will be hit hardest. “The pain at the pump is not evenly distributed,” said Stephanie Valdez Streaty, director of industry insights at Cox Automotive. “Lower‑income households spend a disproportionate share of their budgets on fuel and have the least financial cushion to absorb higher costs.” Analysts said the ultimate impact of the price rise would depend on the length of the conflict and any further escalation — factors industry would be monitoring closely. “Duration matters,” said Joe Brusuelas, chief economist at RSM.

The Navy has had no dedicated minesweepers in the Persian Gulf since last September, when the last of four specialized mine-countermeasures ship that had served in the Persian Gulf for decades was decommissioned at the US Navy facility in Bahrain.

In January, the four former minesweepers were put aboard a heavy-lift vessel and sent back to the US for scrapping.

At the time of the decommissioning in September, US Naval Forces Central Command said minesweeping duties in the gulf would fall to four littoral combat ships (LCS) that would be sent to region.

The LCS fleet was designed to perform two key missions with two different mission packages of hardware and software that can be interchanged on the ships. One is for surface warfare, and the other is for mine countermeasures, according to the Navy.

But the LCS fleet of about 30 active vessels has had a history of problems in reliability – and some analysts say relevance – since the first versions were commissioned in 2008 and 2010.

Critics call the LCS – derisively referred to as “Little Crappy Ships”— as one of the biggest failures in US shipbuilding history. Some of the earliest models have already been retired with just a handful of years on active duty.

Before the war with Iran began, CNN tracking showed three LCS were in the Persian Gulf region.

Analyst Carl Schuster, a former US Navy captain, said deployment of the LCS in the Strait of Hormuz would be “more of a publicity stunt than anything else.”

“The Navy bureaucracy will employ them to make the design seem useful” and “justify their excessive cost,” he told CNN.

Producers cut output as the U.S.-Israeli war on the Persian nations raise fears over vital shipping lane. On Tuesday, Iran’s Supreme National Security Council secretary, Ali Larijani, said the Strait of Hormuz “will be a strait of peace and prosperity for everyone, or one of defeat and suffering for warmongers.”

The warning came after U.S. President Donald Trump again threatened disproportionate retaliation against the Persian nation. “If Iran does anything that stops the flow of oil in the Strait of Hormuz, it will be hit by the United States TWENTY TIMES HARDER than it has been so far,” he said on his Truth Social account. Hours earlier, Iran’s Revolutionary Guard had already responded to Trump, saying that if the U.S. and Israel continue their attacks against Iranian population centers and infrastructure, “they will not allow the export of a single liter of oil from the region to the hostile side and its partners until further notice.”

The Strait of Hormuz accounts for one-fifth of global seaborne oil traffic and is also a key route for the transport of natural gas, fertilizers and other critical minerals. Currently, it remains virtually closed to traffic after attacks on ships left seven sailors dead, according to figures from the International Maritime Organization. Iran’s Hormuz Deterrence Relies on Drones and Submersibles, Not Surface Ships

All of this has contributed to pushing oil prices to levels not seen since 2022. On Monday, Brent crude, the European benchmark, came close to US$120 a barrel. However, later comments by Trump that he was considering a near-term end to the war had a calming effect, and by late morning prices were trading below US$93.

Saudi state oil company Aramco has begun cutting production at two of its fields as a result of the closure of the Strait of Hormuz. Considered the world’s largest energy company, Aramco is already diverting part of its crude shipments to the port of Yanbu on the Red Sea.

“By far, this is the biggest crisis the region’s oil and gas industry has faced,” Aramco Director Amin Nasser said, stressing that a prolonged conflict would affect not only the oil market but the global economy itself.

This week, Bahrain and Qatar reduced their refining rates, the United Arab Emirates implemented cuts, and Kuwait announced a “preventive reduction” in extraction and processing.

The most drastic measure was adopted by Iraq, which ordered a complete halt to production at the Rumaila field, one of the world’s largest oil fields.

President Trump told Axios in a brief phone interview Wednesday that the war with Iran will end "soon" because there is "practically nothing left to target."

"Little this and that... Any time I want it to end, it will end," Trump said during the five-minute call.

Why it matters: Even as Trump publicly signals his operation has largely accomplished its objectives, U.S. and Israeli officials say there has been no internal directive on when fighting might stop.

Israeli Defense Minister Israel Katz said Wednesday the war will continue "without any time limit, for as long as necessary, until we achieve all the objectives and decisively win the campaign."

Israeli and U.S. officials say they are preparing for at least two more weeks of strikes in Iran. Trump himself declined to specify a timeline for when the war will end.

Driving the news: On Tuesday, the U.S. received intelligence that suggested Iran has started laying mines in the Strait of Hormuz — one of the world's most critical chokepoints for oil supply.

Officials say it's unclear how many mines Iran has deployed, but the assessment is that the number is very small. Trump confirmed to Axios that U.S. strikes on Tuesday destroyed 16 mine-laying boats and disrupted Iranian plans.

CENTCOM commander Admiral Brad Cooper said in a video message Wednesday that the U.S. military's mission is to eliminate Iran's ability to project power and harass shipping in the strait.

"U.S. forces continue delivering devastating combat power against the Iranian regime. U.S. combat power is building, Iran's combat power is declining," Cooper said, adding that Iranian missile and drone attacks have declined drastically.

What he's saying: "The war is going great. We are way ahead of the timetable. We have done more damage than we thought possible, even in the original six-week period," Trump told Axios.

He said Iran's hostility extended beyond Israel and the U.S. to Gulf states across the region.

"They were after the rest of the Middle East. They are paying for 47 years of death and destruction they caused. This is payback. They will not get off that easy," Trump said.

The big picture: Trump has given a variety of timelines for the end of the war, but he generally predicted a month's worth of bombing. He outlined four U.S. military objectives in a speech Feb. 28 when he announced the first strikes on Iran:

"Destroy their missiles and raze their missile industry to the ground."

"Annihilate their navy."

"Ensure" that Iran's "terrorist proxies can no longer destabilize the region or the world."

"Ensure that Iran does not obtain a nuclear weapon."

Zoom out: Trump told Axios he spoke by phone Tuesday with Israeli Prime Minister Benjamin Netanyahu.

"We talked about how much we are winning," he said.

Trump also again raised Netanyahu's pending pardon request, blasting Israeli President Isaac Herzog for saying he needs to follow legal procedure — including obtaining opinions from government lawyers — before acting on it.

"He doesn't need any legal opinions. He is full of crap," Trump said of Herzog.

"He is a weak and pathetic guy. I want Bibi to be focused on the war — not on bullshit," he added.

Reality check: Israeli courts have suspended all activity except emergency proceedings since the war began, putting Netanyahu's trial on hold — meaning the case isn't currently consuming any of the prime minister's time.

The Freedom Shield exercises are expected to involve advanced weapons systems. On Monday, South Korea and the United States kicked off their annual Freedom Shield (FS) military exercises, drawing protests from citizens in Seoul who warned the drills could heighten regional tensions and undermine peace on the Korean Peninsula.

The exercise, scheduled to run for 11 days through March 19, includes 22 field training drills involving actual troop maneuvers, according to South Korea’s Joint Chiefs of Staff.

Seoul and Washington have described the exercise as defensive in nature, but critics say the large-scale war games escalate confrontation in the region. North Korea has long denounced the drills as rehearsals for an invasion.

Outside the venue of a protest rally in front of the U.S. Embassy in South Korea in central Seoul, activists and civic groups condemned the exercise and called for its immediate suspension. Protesters argued that the joint drills threaten peace on the Korean Peninsula and hinder prospects for inter-Korean reconciliation.

Speakers at the rally also criticized recent joint special operations training conducted by U.S. Forces Korea and South Korean troops ahead of the exercise, claiming it simulated operations targeting enemy leadership similar to those reportedly used in the Middle East conflict.

They warned that the Freedom Shield drills could involve advanced weapons systems such as unmanned attack aircraft, strategic reconnaissance assets and new missile systems deployed by U.S. forces in South Korea.

“The U.S. is repeatedly violating international law and attempting to turn South Korea into a forward base serving its hegemonic strategy,” a protest speaker said, accusing Washington of disregarding the safety of the South Korean people while pursuing its geopolitical ambitions.

Lee Ki-eun, a youth campaigner from Solidarity for Peace and Reunification of Korea, said the 2026 Freedom Shield exercise features expanded “multi-domain warfare” elements, including operations in space, cyberspace and special operations forces.

Tehran, March 11 (Prensa Latina) The president of the Iranian Football Federation, Mehdi Taj, reiterated his doubts today about the participation of the men's national team in the 2026 World Cup, following the granting of asylum in Australia to five players from the country's women's national team.

Speaking to national television, Taj asserted that the situation creates uncertainty and difficulties for the team. “If the World Cup is held under these conditions, what person in their right mind would send their national team to such a place?” he stated.

The Australian government announced last Tuesday that it granted asylum to five Iranian footballers, including captain Zahra Ghanbari, following their participation in the AFC Women's Asian Cup, currently underway in Australia.

Local media reported that at least two other players requested to remain in the country.

The Iranian national team is scheduled to play its three matches of the first phase of the World Cup in the United States, two in Los Angeles and one in Seattle, forming a group with Belgium, Egypt and New Zealand.

Taj stressed that the final decision on participation will rest with the national sports authorities, although he noted that the recent escalation of tensions with US and Israeli attacks complicates any optimism.

According to FIFA regulations, national federations cannot withdraw from official tournaments, and withdraw from the World Cup after the draw.

Brasilia, March 11 (Prensa Latina) Brazilian President Luiz Inácio Lula da Silva spoke by telephone today with his Colombian counterpart, Gustavo Petro, about Latin American and Caribbean integration, in the context of preparations for the CELAC Summit.

According to the Brazilian president's social media posts, he received a call from Petro in which they discussed the upcoming meeting of the Community of Latin American and Caribbean States (CELAC), to be held in Bogotá on March 21.

In the dialogue, the Colombian president also informed his Brazilian counterpart about the Celac-Africa meeting scheduled for that same morning.

According to what Lula said, the two leaders also confirmed their attendance at the fourth edition of the "In Defense of Democracy" event, organized by the Spanish government in Barcelona on April 18.

Brazilian media outlets reported that the conversation took place amid threats from the United States to classify the Brazilian criminal groups Primeiro Comando da Capital and Comando Vermelho as terrorist organizations.

The potential decision is generating concern in the South American giant, where there are fears that this designation would open the door to military operations by the Donald Trump administration in Brazilian territory.

In December 2025, Colombia faced a similar scenario after the United States classified the Colombian criminal organization "Clan del Golfo" as a terrorist group, the Metrópoles website recalled.