Impact of Global Conflicts on Gas Prices

President Trump’s Statement on Gas Prices

On Monday, President Trump suggested that the disruptions at oil refineries, rather than Iran’s closure of the Strait of Hormuz, are responsible for the rising cost of gasoline. Following the onset of the U.S.-Israeli conflict with Iran, Trump argued on Truth Social that disruptions involving the refineries are key, especially those in Russia affected by Ukrainian actions and those in the blue states like California. He attributed these closures to Democratic officials, referring to them derogatorily as ‘Dumocrats.’

Industry Expert Analysis

Tom Kloza, Gulf Oil’s chief petroleum analyst, shared insights with The Hill, indicating that while Trump’s comments on the Russia-Ukraine war’s impact were somewhat accurate, other factors are at play. The price of Persian Gulf crude oil has risen to $33 per barrel, escalating from $1.75 in February. Kloza highlighted insurance, freight, and risk premiums as contributors to this hike, despite continued crude supply matching levels from earlier in the year.

Ukrainian Actions on Russian Refineries

A post by Trump also discussed Ukrainian military strikes damaging Russian infrastructure and affecting their diesel oil industry. Ukrainian President Volodymyr Zelensky acknowledged the efforts, with the Ukrainian Defense Ministry claiming responsibility for disabling 51 percent of Russia’s oil refining capacity. This has led to a substantial fuel crisis, affecting Russia since earlier this year.

Efforts to End Russia-Ukraine Conflict

Amid these oil disruptions, Trump is advocating for renewed efforts to end the Russia-Ukraine conflict as tensions with Iran persist. Both situations have significantly impacted global energy exports. The Iranian closure of the strait has driven gas prices up, with national averages rising to $4.50 recently, compared to $3.13 last year, according to AAA. As of Monday, the U.S. gas average was $4.37, with diesel averaging $6.53.

Negotiations and Political Implications

U.S. special envoys Steve Witkoff and Jared Kushner have been involved in prolonged negotiations to end the Russia-Ukraine war over the past four years. Recent reports by The New York Times suggest a multibillion-dollar deal involving Middle Eastern business figures could be part of the talks. These sustained high gas prices are becoming increasingly contentious as the midterm elections approach, with Republican candidates urging for resolution over the conflict with Iran to help lower fuel costs.

Rachel Frazin contributed to the report. Copyright 2026 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.