How the Strait of Hormuz affects the price of filling your gas tank
On paper it makes little sense. Ship traffic through the Strait of Hormuz, roughly 7,000 miles from the United States, is restricted and gasoline prices in this country soar?
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Most oil passing through the strait goes to Asian markets, according to the U.S. Energy Information Administration. And due to greater domestic production, the U.S. is importing less crude oil from the Persian Gulf than it has in 40 years, EIA said in a March analysis.
So why are U.S. consumers paying so much more for gasoline? Globalization.
“Supply disruptions anywhere in the world can also affect prices everywhere in the world because we live in a global market,” explained Jeff Lenard, a vice president of the trade group National Association of Convenience Stores. “Oil and refined products like gasoline are traded on the commodities markets. Places with short supply are willing to pay more for product. That drives up the global price.”
https://washingtonstatestandard.com/2026/05/12/repub/how-the-strait-of-hormuz-affects-the-price-of-filling-your-gas-tank/