The price of oil surged Sunday night after President Donald Trump said the U.S. would blockade the Strait of Hormuz after peace talks with Iran failed.
Blocking the Strait of Hormuz to unblock the Strait of Hormuz is peak Trump foreign policy.
-- Eliot Higgins (@eliothiggins.bsky.social) Apr 12, 2026 at 9:11 AM
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The longer term issue to keep in mind is not the price of gas, but the price of diesel fuel.
The diesel fuel that is used to transport goods across the Country every hour of every day.
Why Diesel Prices Spike Faster Than Gasoline In A Crisis
www.forbes.com
... When a geopolitical shock hits energy markets, the same pattern plays out: diesel prices spike fast, while gasoline lags behind.
According to data from the Energy Information Administration, since the conflict in Iran began through 4/6/26, the national average price of gasoline has risen by $1.11 per gallon.
Meanwhile, diesel prices are up $1.75 per gallon. That divergence is important, because diesel underpins freight and logistics, amplifying inflationary pressures across the broader economy. ...
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