Tuesday 07 April 2026 – 08:13 PM
The US Energy Information Administration said on Tuesday Fuel prices It may continue to rise for months even after the reopening of the Strait of Hormuz, in contrast to US President Donald Trump’s assurances that consumers will feel immediate relief when he ends the war with Iran.
High oil and fuel prices
The US-Israeli war with Iran, now in its second month, has led to a sharp rise in oil and fuel prices around the world, as Iran has banned ships from crossing the Strait of Hormuz, a major trade corridor. Trump has repeatedly told Americans that these price shocks are temporary. Trump’s popularity has fallen to new lows as fuel prices rise to their highest levels in several months.
However, the Energy Information Administration, the statistical arm of the US Department of Energy, was less certain in its report on the short-term energy outlook. The administration said that the path of fuel prices depends on a number of variables, including the duration of the closure of the Strait of Hormuz and the amount of oil production that was halted in the Middle East because of that.
The administration said, “Just as we have never witnessed the closure of the Strait before, we have not seen it reopen. It is still unclear exactly what the situation will be.”
Trump gave Iran an ultimatum to open the Strait of Hormuz by the end of the day, Tuesday. Trump threatened that if an agreement could not be reached today, “an entire civilization will perish tonight.”
The Energy Information Administration expects that it will take months to fully restore shipping traffic through the Strait of Hormuz, even after the end of the conflict, and expects that uncertainty about future supply disruptions will keep oil prices above pre-conflict levels during the rest of this year.
