Bus firms fear US-Iran crisis

BUS operators in the country are closely watching the United States – Iran crisis because of fears that any further escalation in military action could impact on fuel prices.

“That is the last thing we need right now,” said a director of a Central-Eastern bus company who spoke to this newspaper on the condition of anonymity.

“We are already being hit hard with no bus fare increase for the past 10 years and fluctuating fuel prices,” he said.

“If the problem between the US and Iran gets worse then we could most likely see an increase in fuel costs and this would really affect a lot of bus companies who are just trying to keep their business operational on a daily basis.”

He said while fuel was a major cost, there were also other related costs including oil and lubricants which could also be impacted by the US-Iran situation.

The director was referring to the killing of Iranian Major General Qassem Soleimani last week by a US airstrike.

Overseas media outlets reported that Iran retaliated on Tuesday by firing more than a dozen ballistic missiles at Iraqi military bases housing US troops, however, no casualties were recorded.

Initially, oil prices hit a high of $US65.65 a barrel on Tuesday when Iran fired on the US bases in Iraq

However, US news agency CNN announced oil prices tumbled on Wednesday and dipped below $US60 a barrel after US President Donald Trump signalled tensions with Iran were easing.