#oil-prices
4 entries with this tag
The War Trump Promised Wouldn't Hurt Americans at the Pump Has Pushed Gas to Roughly $4.10 a Gallon — Up From $2.98 in February, Likely the Most Expensive August on Record — as His Own Strait of Hormuz Standoff Chokes Off the World's Oil Chokepoint, With Ship Traffic Collapsing From Around 130 Vessels a Day to Nearly Zero and His Officials' Promise That the Price Spike Would "Subside" Now Six Months Old
When Trump launched his war on Iran in February 2026 and the resulting standoff shut down the Strait of Hormuz — the waterway through which a fifth of the world's oil passes — his administration assured Americans the price spike would be brief and would soon subside. Six months later it has done the opposite. By late August 2026, the national average for regular gasoline had climbed to roughly $4.10 a gallon, up from $2.98 on February 28, and AAA indicated it was on track to be the most expensive August on record. The cause is not a mystery or a foreign plot: it is the direct consequence of Trump's own war and his refusal to end it. Traffic through the Strait of Hormuz, which normally sees around 130 ships a day, had collapsed to a handful — five vessels one recent Saturday, none registered the following Sunday — while Brent crude pushed near $89 a barrel. Trump's response has been to escalate the rhetoric that keeps the strait closed, threatening to "bomb the shit out of" Oman, the country mediating a reopening. Every dollar added to a gallon of gas is a tax on every American who drives to work, and it traces back to a war launched on a threat the intelligence never found and kept going long after his own generals concluded it could not be won. The president who ran on lowering prices has delivered, through a war of choice, the highest summer gas prices in the country's history.
"If We Need to Negotiate with Bombs, We'll Negotiate with Bombs": Hegseth Pledges Strikes on Key Facilities as U.S. Hits Iran for Second Straight Night
Defense Secretary Pete Hegseth, leaving CENTCOM headquarters in Tampa, told reporters: "If we need to negotiate with bombs, we'll negotiate with bombs. And we're very good at it." The U.S. launched strikes on Iran for a second consecutive night — 49 Tomahawk missiles hitting targets as close as 40 miles from Tehran. The strikes destroyed Iran's water reservoirs in Hormozgan Province, leaving 20,000 people without drinking water in 50°C heat. Weapons experts identified fragments as U.S. GBU-39 munitions. Iran retaliated with strikes on U.S. bases in Kuwait, Jordan, and Bahrain. Trump from the Situation Room — with Vance, Kushner, and Witkoff — told Fox News: "If Iran doesn't agree to a deal, we'll bomb the shit out of them tomorrow night." He threatened to target bridges and power plants. CPI hit 4.2% — a three-year high driven by war-fueled energy costs. Brent crude: $94/barrel. The April 8 ceasefire is functionally dead. The war Trump said would last four to five weeks is now at fifteen.
Iran Halts All Negotiations With the U.S. and Vows to "Completely Block" the Strait of Hormuz
Iran suspended all mediated exchanges with the U.S. and announced it will pursue a complete blockade of the Strait of Hormuz — plus activate the Bab al-Mandeb chokepoint — after accusing the U.S. of ceasefire violations through Israel's continued operations in Lebanon against Hezbollah. Oil surged 7.7% on the news. Trump's response: "I don't care" if negotiations are over, and the talks had "started to get very boring." The deal that was on the table — unrestricted Hormuz shipping, mine removal, blockade lifting, sanctions waivers — now appears dead. Three months into a war that had no defensible cause, the strait remains closed, oil is up 30%, and the president says he's bored.
Iran Military Mocks Trump with "You're Fired" as 15-Point Peace Plan Rejected
Iran's military spokesperson told Trump "You are fired" and mocked him for "negotiating with yourself." Iran rejected the 15-point peace plan as "maximalist" and issued its own 5 conditions. The 82nd Airborne was ordered to deploy as Trump declared the war "won."