India, March 9 -- A new supreme leader now rules Iran, and the world is already paying the price at the pump. On March 8, 2026, Iran's Assembly of Experts chose Mojtaba Khamenei to lead the country. He succeeds his father, Ayatollah Ali Khamenei, who died in a joint US-Israeli airstrike on February 28. The vote came just nine days into one of the most explosive conflicts in the Middle East in decades.

The moment the announcement broke, global oil markets jolted. U.S. crude futures surged more than 20% in early Monday trading. Brent crude jumped 18.85% to $110.17 a barrel its highest level since July 2022.

For ordinary people around the world, this means higher fuel bills, pricier groceries, and fresh uncertainty ahead. And with a hardli...