Gas Prices: The Iran War, Not Ukraine, Is to Blame
An analysis argues that U.S. Energy Secretary Chris Wright's attribution of high gas prices to Ukraine's strikes on Russian refineries is misplaced. The real driver is the ongoing U.S.-Israeli war with Iran, which has disrupted oil flows through the Strait of Hormuz and pushed crude above $100 a barrel.
The Strait of Hormuz, which carried roughly 20 million barrels of oil daily before hostilities began, now sees only about 8-9 million barrels per day according to independent tanker trackers, with Iranian forces periodically attacking vessels. Saudi Arabia's East-West pipeline, built as a bypass to the strait, has been running at maximum capacity but now faces new threats from Houthi advances in Yemen, including the seizure of islands near the Bab el-Mandeb strait that could expand their ability to disrupt shipping.
U.S. officials maintain the strait remains open, but the discrepancy between official claims and independent tracking data highlights the uncertainty surrounding actual oil flows. The article notes that a single tanker departed the Persian Gulf on Thursday, underscoring how severely the conflict has constrained normal energy trade patterns.
This dispute over the cause of rising fuel prices could shape public perception and political accountability during an election cycle. With gasoline above $4 per gallon and diesel reaching record highs, households and businesses that depend on transportation face immediate financial strain. The framing of blame—whether directed at Ukraine or at Middle East policy—may influence voter attitudes toward the administration's foreign policy decisions, though the actual market forces remain complex and difficult to attribute to any single factor.