US EditionFuel Prices Could Keep Rising for Months Even if Hormuz Reopens, US EIA Says
The EIA said Brent crude will average $96 a barrel this year and U.S. gasoline prices are likely to peak at $4.30 a gallon in April.
- On Tuesday, the Energy Information Administration warned fuel prices could keep rising for months after the Strait of Hormuz reopens, contradicting President Donald Trump's assurances of immediate consumer relief when the conflict ends.
- The US-Israeli war with Iran has blocked the Strait of Hormuz, a critical chokepoint responsible for one-fifth of global oil and gas supplies, driving energy costs higher as Middle Eastern producers struggle with output constraints.
- As of Tuesday, US national average gasoline prices stood at $4.14 a gallon and diesel at $5.65, with the EIA forecasting April peaks of $4.30 for gasoline and $5.80 for diesel.
- Global oil demand growth is now expected to reach about 600,000 barrels per day to 104.6 million total, as the EIA stated, "We assume reductions in demand occur primarily in Asia, which is more reliant on crude oil supplies from the Middle East."
- The agency maintains a risk premium on crude oil prices, expecting uncertainty around future supply disruptions to keep costs above pre-conflict levels through the year, though oil demand will rebound next year once flows normalize.
13 Articles
13 Articles
Fuel prices could keep rising for months even if Hormuz reopens, U.S. EIA says
Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the U.S. Energy Information Administration said on Tuesday, deviating from U.S. President Donald Trump’s assurances that consumers will see immediate relief when he ends the war with Iran.
US Energy agency says fuel prices may keep rising for months after Strait of Hormuz reopens: All we know
Fuel prices are expected to rise for months even after the Strait of Hormuz reopens, according to the US Energy Information Administration. Petrol prices have peaked at $4.30 a gallon in April.
The Straits Times
The Edge MarketsFuel prices could keep rising for months after Hormuz reopens, US EIA says
It expects uncertainty around future supply disruptions to keep oil prices above pre-conflict levels through the rest of 2026. Read more at straitstimes.com.
Fuel prices could keep rising for months even if Hormuz reopens, US EIA says
Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the U.S. Energy Information Administration said on Tuesday, deviating from President Donald Trump's assurances that consumers will see immediate relief when the war with Iran ends.
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