Donald Trump stated that the increase in gasoline prices is no longer connected to the Strait of Hormuz, as record volumes of oil are once again passing through the route. According to him, the current price rise is driven by problems at refineries: Russian refineries are being attacked by Ukraine, and in the US, some facilities are shutting down in Democrat-controlled states, including California.

Record Oil Volumes Through the Strait of Hormuz

Trump believes that oil transit through the Strait of Hormuz has recovered to record levels, and therefore, in his view, this route no longer has a direct impact on rising fuel prices.

Refinery Issues: Attacks on Russian Plants and Closures in the US

The former president links the price increase to processing constraints: he points to strikes on Russian refineries and the closure of refining capacity in the US, including in California, which he says reduces gasoline supply and increases price pressure.