Top oil executives have issued a grave warning to the Trump administration that American gas prices could spike dramatically again in the coming weeks.
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’s 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.
Four oil industry figures told Politico Thursday 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.
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