With the United States midterm elections approaching, President Donald Trump has attempted to shift blame for high fuel prices from the US-Israel war on Iran to Democrats and Ukraine’s attacks on Russian refineries. While Trump claims domestic refinery closures are driving the spike, daily exports through the Strait of Hormuz have actually plunged 97 percent since the war began, choking global supplies. Petrol prices are continuing to climb for consumers.
The average price for a gallon (3.79 litres) is $4.36, up from $4.14 a month ago and up from $2.98 on February 28, when the US and Israel first struck Iran, according to the American Automobile Association (AAA), which tracks daily petrol prices. On Friday, G7 countries agreed to release 100 million barrels of diesel and crude from emergency reserves amid pressure from the White House. Meanwhile, the US Strategic Petroleum Reserve hits its lowest level since 1982.
Ukraine’s attacks on Russia’s energy infrastructure have also driven up prices, particularly diesel fuel. On Sunday, Ukraine’s Ministry of Defence claimed that it has disabled more than half of Russia’s oil refining capacity. The latest strikes come amid ongoing attacks since the war between Russia and Ukraine began in 2022.
In June, Russian refinery throughput hit its lowest level in two decades, according to an analysis by the International Energy Agency (IEA). The analysis also found that diesel production has fallen 30 percent over the past 18 months. Trump has also blamed price increases on refining cuts in Democratic-led states such as California, where two refineries have shut down over the past year.
The closures reduced the state’s refining capacity by 17 percent, creating some supply gaps, according to an analysis by S&P Global. However, Trump’s effort to shift blame to Democrats comes ahead of consequential midterm elections that could shape the balance of power in Washington. At the same time, most Americans appear to blame Trump for rising prices.
A recent AP-NORC poll found that 65 percent of Americans blamed Trump’s policies for higher prices, while 61 percent said the US economy is worse off than when Trump returned to office.
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