Trump Blames Refineries and Ukraine for Rising Fuel Prices, Not Hormuz
- Global fuel markets face scrutiny as Donald Trump points to refinery disruptions as the driver of surging pump prices.
- Trump asserted on Truth Social that the Strait of Hormuz is no longer the main catalyst for rising gasoline prices because record numbers of oil barrels move through...
- Data from oil-tracking firm Kpler indicates that Trump’s assessment is partially correct.
Global fuel markets face scrutiny as Donald Trump points to refinery disruptions as the driver of surging pump prices. US President Donald Trump stated in a social media post that high fuel costs are driven primarily by attacks on refineries rather than bottlenecks in the Strait of Hormuz, according to reports by polsatnews.pl and tvn24.pl.
Trump Blames Refineries Over Strait of Hormuz
Trump asserted on Truth Social that the Strait of Hormuz is no longer the main catalyst for rising gasoline prices because record numbers of oil barrels move through the waterway almost daily. Instead, he pointed directly to the word refineries, citing Ukrainian strikes on Russian facilities and the closure of domestic facilities in Democratic-led states such as California, polsatnews.pl reported. The term blue states in his remarks refers to regions where voters predominantly support the Democratic Party.
Data from oil-tracking firm Kpler indicates that Trump’s assessment is partially correct. While the daily flow of crude through the Strait of Hormuz has rebounded to pre-conflict levels of 13.5 million barrels, the volume of refined products has dropped from 3.6 million barrels daily before the conflict down to 677,000 barrels. Shipping insurance costs and ship-to-ship transfers resulting from Iranian attacks have kept the price of crude exported through Hormuz elevated, polsatnews.pl noted.
Ukraine Defends Fuel Sector Strikes
Ukrainian President Volodymyr Zelenskyy addressed the military strategy during an interview with Reuters, stating that Ukraine must respond to Russian energy infrastructure attacks with strikes on Russian military funding sources. For attacks on our infrastructure, we must respond with strikes on their infrastructure. First of all, refineries, which give them money for this war,
Zelenskyy said, as cited by tvn24.pl.
Zelenskyy added that Ukrainian intelligence recovered documents showing that Russian leadership implemented a new strategy to target Ukrainian civilian infrastructure, roads, schools, and hospitals to pressure residents in Kyiv and other cities. Ukrainian officials noted that while their strikes have reduced Russian diesel exports, those military operations have persisted for over a year, whereas the sharp price surge began following the conflict involving Iran, according to polsatnews.pl reporting.
US Administration Pursues Fuel Relief Measures
Before the conflict involving Iran, the average price of diesel in the United States stood at $3.81 per gallon, but surpassed $6.50 for the first time in September. With fuel costs remaining a critical issue for transportation and agriculture ahead of elections, the US administration has explored intervention strategies, polsatnews.pl reported. Bloomberg reported that officials planned to unveil a proposal to ease restrictions on the sale of dyed diesel, which is normally exempt from the 24-cent federal excise tax per gallon, though industry experts anticipate only a minimal downward impact on pump prices.
Fuel Price Debates Precede US Congressional Elections
The policy debate surrounding fuel prices and refinery operations comes ahead of the United States congressional elections scheduled for November 3. The Washington administration previously urged Kyiv to halt strikes on Russian refineries, arguing that the disruption exacerbated global diesel price spikes. Meanwhile, Ukraine has maintained its readiness to halt attacks on energy facilities if Russia agrees to reciprocal cessation, a proposal that Russian authorities have rejected, according to tvn24.pl.