Iran-US war latest: Tehran hikes gasoline prices for heavy users as Strait of Hormuz traffic continues to fall

US strikes three Iranian oil tankers in response to attacks on warshipsIran introduced a higher price for its heaviest gasoline users after Tehran said it will unveil new sanctions for ships trying to pass through the Strait of Hormuz following a weekend of renewed exchanges with the US.Under the new system, people buying more than their quota of 110 liters of gasoline a month now must pay 100,000 rials (about 7 cents) per liter, or twice as much as they have been paying since December.Gas price hikes can be sensitive, as seen in 2019 when an increase led to nationwide protests and a deadly crackdown.The price hike comes as shipping traffic through the Strait of Hormuz slowed at ​the start of this week after ‌Iran threatened to retaliate for any new US attacks.The number of commodity vessels sailing ​through the strait ​totalled seven on Monday, compared with eight ⁠on the previous day, Kpler data ​showed on Tuesday.Mohsen Rezaei, the secretary of Iran’s supreme national security council, said any ship seen entering the new restricted zone would be added to a sanctions list, reiterating that the waterway would only fully open again once the Americans “stop the sabotage, threats and attacks on Iran”.Iran hints at preemptive action as it touts ballistic missileIranian state media said a ballistic missile with improved capabilities demonstrates Tehran's shifting stance toward taking preemptive action against threats.A senior Iranian official earlier said the new missile capability had been "tested" against a US warship over the weekend. But it was not clear whether what was tested was the missile the new report described, the solid-fueled Qassem Basir.On Saturday, the US said it struck Iranian oil tankers in response to ballistic missiles launched at US warships.Iran's messaging in recent days has become more assertive, and yesterday's report said the Qassem Basir marks "a turning point in Iran's defense strategy." It described the missile as having greater range and accuracy and a half-ton warhead. Alisha Rahaman Sarkar8 September 2026 06:21UAE says 'no single state' should control HormuzA UAE senior official has said that "no single state" should control the Strait of Hormuz, after Iran said it plans to announce a new "exclusion zone" near the waterway aimed at vessels intending to transit."Our energy exports will not be held hostage, nor will our trade and economic activity," Anwar Gargash, a diplomatic adviser to the UAE president, said at a forum of world leaders in Abu Dhabi.Gargash said Iran should face consequences for threatening oil tankers and commercial vessels in the strait with mines, drones or missiles. "Using an international waterway as an instrument of coercion is unacceptable," he added. The UAE, a close US ally, has repeatedly come under Iranian missile and drone fire throughout the war. Alisha Rahaman Sarkar8 September 2026 06:00Hormuz traffic slows after Iran threatens retaliationShipping traffic through the Strait of Hormuz slowed at ​the start of this week, after ‌Iran threatened on Monday to retaliate for any new US attacks.The number of commodity vessels sailing ​through the Strait of Hormuz ​totalled seven yesterday, compared with eight ⁠on the previous day, Kpler data ​showed this morning.Iran had warned that energy ​infrastructure across the Gulf, including US oil and gas interests, was vulnerable. A motorboat travels past commercial vessels anchored amid haze in the Strait of Hormuz off Bandar Abbas, Iran, Monday (AP)Alisha Rahaman Sarkar8 September 2026 05:40Oil rises as Mideast conflict heightens supply worriesOil prices extended ‌gains today as risks of a prolonged conflict in the Middle East grew after Iran threatened to retaliate against any new U.S. attacks on its assets, heightening worries over supply disruption.Brent crude ​futures climbed 34 cents, or 0.35 per cent, to $97.34 a barrel. US ​West Texas Intermediate crude was at $92.63 a barrel, up $1.15, or 1.26 per cent. Alisha Rahaman Sarkar8 September 2026 05:20Iran raises gas price again for its heaviest usersIran introduced a higher price for its heaviest gasoline users, state media reported, the second such increase since December.Gas price hikes can be sensitive, as seen in 2019 when an increase led to nationwide protests and a deadly crackdown.The government did not specifically mention the war with the US as the reason for this latest increase but cited the "current situation."Under the new system, people buying more than their quota of 110 liters of gasoline a month now must pay 100,000 rials (about 7 cents) per liter, or twice as much as they have been paying since December. Alisha Rahaman Sarkar8 September 2026 05:15Israeli airstrikes on southern Lebanon kill at least 12Israel carried out airstrikes on the southern Lebanese village of Kfar Rumman, killing at least 12 people, including a paramedic, four women and two children, the health ministry said.The strikes came during a new round of escalation between Israel and the Iran-backed Hezbollah. Israel's military said it struck several Hezbollah militants it accused of transferring weapons to Kfar Rumman.The military also said it was reviewing the claim that "several uninvolved civilians were harmed" in overnight strikes across southern Lebanon, which it said were in response to Hezbollah militants launching explosive drones against soldiers in the area of the Ali Taher ridge. Alisha Rahaman Sarkar8 September 2026 05:00Iran threatens US with maritime exclusion zoneIran has threatened the US with "economic warfare" and said it had fired an advanced missile at US warships, underscoring the risks of further escalation in the war only days after both sides traded blows again.Mohsen Rezaei, the secretary of Iran's Supreme National Security Council, reissued dual economic and military threats on X."In recent days, Washington has received a clear warning from Iran’s new ​missiles. Economic ⁠warfare will be met by a maritime exclusion zone across the ‌Persian Gulf to the blockade perimeter. The operational posture toward US warships and bases has been fundamentally recalibrated," Rezaei said.Rezaei was likely referring to the Qassem Basir ballistic missile that Iranian media reported was fired at US warships near the Strait of Hormuz. The US military said its warships evaded any missile attacks. Alisha Rahaman Sarkar8 September 2026 04:45Houthis say Saudi Arabia struck Yemen prison, killing child and 6 othersHouthi rebels in Yemen accused Saudi Arabia of striking a prison in the country's north, killing seven, including a child, as tensions escalate between the Iran-backed group and Saudi-backed Yemeni forces.The strike on the Central Corrective Facility in the strategic city of Hazm in Jawf province also wounded at least seven people, including a woman, said Anees al-Asbahi, a spokesman for the Houthi-run health ministry.The prison's warden told the Houthi al-Masirah news channel 35 prisoners and a woman who was visiting her husband were trapped under the rubble. Alisha Rahaman Sarkar8 September 2026 04:31Strait of Hormuz shipping drops, Trump claims the waterway is 'open'Commercial shipping through the Strait of Hormuz dropped by 28 per cent last week, falling to 77 vessels as security concerns continue to disrupt Persian Gulf trade routes, according to data from analytics firm Kpler. Beyond declining overall traffic, Kpler observed a distinct shift in navigation patterns. Between September 4 and September 6, 21 out of 28 transiting ships bypassed international corridors to use Iran’s unilateral routing scheme.The US leader insists the Strait is still open (AFP/Getty)The data contradicts claims from US president Donald Trump, who has repeatedly asserted that the waterway is "open" and under total US control following mine-clearing operations earlier last week. Maritime monitors note that while international shipping lanes are technically navigable, traffic remains severely depressed compared to pre-war levels, with commercial operators increasingly forced onto Iranian-managed routes to avoid security risks. Suha Kidwai8 September 2026 03:00Iraqi diplomat urges trade and tourism boost with Iran’s Ilam provinceIraq’s consul general in Kermanshah, Saadoun al-Saedi, has called for expanded commercial and tourism links with Iran’s Ilam province, citing strong geographical and cultural ties.Speaking with Ilam Governor Ahmad Karami on Monday, al-Saedi emphasised that shared border heritage provides a strong framework to deepen economic, trade, and security cooperation.The diplomatic push comes despite mounting US financial pressure on Iraqi banks aimed at curbing cross-border capital flows to Tehran. Al-Saedi noted that efforts are underway to expand cross-border trade, urging regional officials from both nations to leverage proximity to drive commercial growth and regional stability.Suha Kidwai8 September 2026 02:00