The United States is reportedly set to take more actions against Venezuela amid escalating tensions between the two sides, while Venezuelan President Nicolas Maduro remains defiant in the face of further U.S. threats.
A report from Reuters on Saturday said the U.S. is preparing to launch a new phase of operations against Venezuela in the coming days, citing anonymous U.S. officials.
The U.S. military has beefed up its presence in the Caribbean Sea in recent weeks amid worsening relations with Venezuela. Since early September, American forces have sunk more than 20 alleged drug-trafficking boats, killing over 80 people. The U.S. has framed the operations as counter-narcotics measures, while the Venezuelan side says they are geopolitical pressure tactics aimed at destabilizing the country.
As the U.S. ramps up its military presence around Venezuela, the Department of State has decided to formally designate the Cartel de los Soles (meaning "cartel of the suns" in English), a loosely organized network of drug traffickers, as a foreign terrorist organization, effective on Monday. The U.S. alleges that the cartel is headed by Maduro but has not released evidence to back up the claim.
In response, Maduro emphasized that the latest U.S. accusations is merely rehashed rhetoric, emphasizing that Venezuela is "indestructible" in the face of the threats and psychological warfare being conducted by the United States, according to a Venezuelan media report on Sunday.
The report said Maduro has ordered the country to remain on alert and conduct military preparedness exercises in anticipation of possible aggression form the U.S. side.
US threatens more actions as defiant Maduro says Venezuela is "indestructible"
Gas prices at pumps in the United States surged above four U.S. dollars a gallon for the first time since the summer of 2022, reaching a record high in nearly four years, data from the American Automobile Association (AAA) showed on Tuesday.
According to AAA, the national average for a gallon of regular gasoline in the United States has risen by about one dollar since last month, reaching 4.018.
The price of diesel hit 5.454 U.S. dollars per gallon, up 45 percent in a month.
In California, the largest U.S. state economy, the average gas price stood at 5.887 U.S. dollars per gallon and the average cost of a gallon of diesel reached an all-time high of 7.455 U.S. dollars on Tuesday, as per AAA.
The growing gas price has become a challenge for local car owners in Los Angeles, California, as many of them saying they are cutting back on driving and changing daily habits.
"The only reason why I came here was convenience. I was completely out of gas, and on 'empty.' But this is crazy expensive. So, normally, I would never come to a gas station this expensive, and I'd look for cheaper gas," said Cindy Devereaux, a local resident.
"I commute a lot, so, I'm paying like 30 dollars more in the prices that I used to pay. So, it's really taking a toll on my wallet, and it's not a good look for the economy. I think this is just the beginning. I honestly think it's going to get worse, and we're just seeing the beginnings of this. And, yeah, I think we're heading into a crisis," another local resident Scarlett Zamora said.
Given the oil price hikes caused by the war in Iran, consumers' median 12-month inflation expectations in March surged, according to a Conference Board report on Tuesday.
The report showed that consumers' median 12-month inflation expectations in March stood at 5.2 percent, higher than the 4.5 percent reading in February.
Meanwhile, U.S. Consumer Confidence Index rose to 91.8 in March, up from 91.0 in February, the report said.
US gas prices reach record high in nearly 4 years
