White House reveals real reason behind rising US gasoline prices
The Donald Trump-led White House has said disruptions at refineries, rather than the Strait of Hormuz, are now driving up gasoline prices in the United States.
The White House made this disclosure on its official X account on Monday.
The White House said record volumes of crude oil were passing through the Strait of Hormuz almost daily, shifting attention to refinery capacity as a key factor behind rising gasoline prices.
“What’s driving up gasoline is no longer the Strait of Hormuz, because record numbers of barrels are coming out now on an almost daily basis, but the word, ‘refineries,’ where Russia’s are being blown up by Ukraine, and where ours are being closed up, in Blue States…” the White House stated.
The statement comes amid concerns over the impact of refinery disruptions on fuel supplies and gasoline prices in the US.
The White House linked refinery disruptions in Russia to attacks by Ukraine, while also pointing to refinery closures in Democratic-led, or “Blue,” states in the US.
It suggested that the availability of crude oil through the Strait of Hormuz is no longer the primary factor behind gasoline price pressures.
DAILY POST reports that the Strait of Hormuz is a major global oil transit route through which a significant volume of crude oil and petroleum products passes.
However, the Iran-United States-Israel conflict in the Gulf region has significantly affected the Strait of Hormuz.
The disruption in the Strait of Hormuz has affected global energy supplies and fuel prices, including in Nigeria.
DAILY POST reports that West Texas Intermediate and Brent crude stood at $89 and $100 per barrel, respectively, at the time of filing this report.
Domestic fuel prices in Nigeria stood between N1,370 and N1,410 per litre in Abuja.