How the Strait of Hormuz affects the price of filling your gas tank

How the Strait of Hormuz affects the price of filling your gas tank by David Lightman | States Newsroom, CT Mirror May 12, 2026 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?  The strait is the major export route for oil produced by Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Iraq, Bahrain and Iran, according to the International Energy Agency. But since Feb. 28, when the Iran war began and the narrow passageway between Oman and Iran became a battleground, U.S. gasoline prices have soared -- and the prices of consumer products and services are poised to jump as well.  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...

Source: https://ctmirror.org/2026/05/12/gas-prices-strait-of-hormuz/