{"id":146010,"date":"2026-06-04T23:21:16","date_gmt":"2026-06-04T23:21:16","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/146010\/"},"modified":"2026-06-04T23:21:16","modified_gmt":"2026-06-04T23:21:16","slug":"oil-industry-issues-warning-to-trump-about-major-price-spike-caused-by-irans-strait-of-hormuz-closure","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/146010\/","title":{"rendered":"Oil Industry Issues Warning to Trump About Major Price Spike Caused by Iran\u2019s Strait of Hormuz Closure"},"content":{"rendered":"

Top oil executives have issued a grave warning to the Trump administration that American gas prices could spike dramatically again in the coming weeks.<\/p>\n

Iran has shuttered the Strait of Hormuz since Donald Trump launched his war against the Islamist regime in late February, choking off as much as one-fifth of the world\u2019s crude supply. The president has spent those months casting the disruption as temporary, even as drivers were continuing to pay a national average of $4.26 per gallon as of Wednesday.<\/p>\n

Four oil industry figures told Politico Thursday<\/a> that fuel stockpiles have now been drained to perilously low levels, and that they have alerted top administration officials and Cabinet secretaries to the accelerating crisis.<\/p>\n

\"Trump's<\/p>\n

Trump’s war with Iran has already sent gas prices soaring. \/ Social Media \/ Reuters<\/p>\n

One of those figures, who spoke anonymously about the closed-door discussions, said the message had reached the very top of the administration. \u201cWe\u2019re at dangerously low levels already,\u201d the executive said, warning about \u201cwhat\u2019s coming in mid-to-late June.\u201d<\/p>\n

\u201cI hope they are paying attention to inventories right now,\u201d they added. \u201cYou\u2019re hitting tank bottom.\u201d<\/p>\n

The White House has flatly rejected that account. \u201cPolitico\u2019s anonymous sources are wrong,\u201d one official said. An Energy Department spokesperson added there have been \u201cno such discussions\u201d about inventories.<\/p>\n

\"Voters<\/p>\n

Voters are increasingly making their frustrations known in polls ahead of the November midterms. \/ Kevin Mohatt\/Reuters<\/p>\n

The Daily Beast contacted both for further comment on this story. \u201cPresident Trump and his energy team anticipated short-term market disruptions, communicated them openly to the American people, and implemented an aggressive plan to mitigate any impacts,\u201d White House spokesperson Taylor Rogers said.<\/p>\n

\u201cWhen the President forces this conflict to a successful end, gas prices will drop back to multi-year lows and global energy markets will be much more stable in the long term,\u201d they added. The Energy Department did not immediately respond.<\/p>\n

The private alarm mirrors what the oil giants are now saying out loud. Exxon Mobil and Chevron warned last week that pump prices could leap if stockpiles keep sliding.<\/p>\n

Exxon senior vice president Neil Chapman, speaking at an investor event, said dated Brent crude could climb to $150 or $160 a barrel, according to Politico. \u201cOnce you get to that point, then you\u2019ll see prices shoot up,\u201d he said.<\/p>\n

A second oil executive was blunter about the cost to households. \u201cDon\u2019t think that an open strait is going to mean your July 4 gasoline bill isn\u2019t going to be higher than what it is today,\u201d they told the outlet. \u201cIt\u2019s going to be.\u201d<\/p>\n

Pain at the pump is already battering Trump in the polls. His net approval rating has now sunk to -25, according to YouGov\u2019s latest survey<\/a>, representing the lowest the group has ever recorded for any president since it began in 2009. A further survey by NPR<\/a> found that more than 8 in 10 Americans say the cost of fuel is squeezing their finances, with a strong majority blaming the president.<\/p>\n

Those frustrations are increasingly evident in forecasts for the November midterms. Democrats have racked up an almost 7-point lead in voter intentions ahead of what is now shaping up to be a bruising battle for Republicans to retain control of both the House and the Senate.<\/p>\n","protected":false},"excerpt":{"rendered":"Top oil executives have issued a grave warning to the Trump administration that American gas prices could spike…\n","protected":false},"author":2,"featured_media":146011,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[28],"tags":[18516,376,102,24976,101,392,1537],"class_list":["post-146010","post","type-post","status-publish","format-standard","has-post-thumbnail","category-strait-of-hormuz","tag-administration-officials","tag-gas-prices","tag-hormuz","tag-politico","tag-strait-of-hormuz","tag-trump","tag-white-house"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116694410031575521","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/146010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=146010"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/146010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/146011"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=146010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=146010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=146010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}