WORLD

Trump blames Ukraine war, Democratic states for rising gas prices

by
Jung Mok-hee
Published : Oct. 6, 2026 - 06:05:14
    • Copy Completed!

View Korean Original

'It's no longer the Strait of Hormuz,' Trump says, pointing to refinery shortages

One Trump story a day — because in an era when a single word from the US president can shake global markets, keeping up shouldn't take more than a minute. The Herald Business international desk, on the move from 5 a.m., curates the essential Trump news — from Wall Street's closing bell to the moves shaping global asset markets — and delivers it in a quick, one-minute read. Subscribe to the newsletter at The Herald Business website.

US President Donald Trump answers reporters' questions on the South Lawn of the White House on Monday (local time). [EPA]
US President Donald Trump answers reporters' questions on the South Lawn of the White House on Monday (local time). [EPA]

US President Donald Trump said Monday (local time) that rising gasoline prices are no longer driven by the Strait of Hormuz but by a shortage of refining capacity.

Trump made the claim on his Truth Social account, writing that "it's no longer the Strait of Hormuz" pushing up gasoline prices, because "record amounts of oil are coming through the Strait of Hormuz almost every day."

"The problem is refineries," he added. "Russia's refineries are being blown up by Ukraine, and our refineries are being closed down by stupid Democrats in Democrat-run states like California."

The argument holds that with crude oil supply through the Strait of Hormuz in effect unimpeded, it is the refining sector's capacity to convert crude into petroleum products such as gasoline that is driving prices higher.

In doing so, Trump shifted blame for rising gasoline prices away from the Iran war he initiated and onto the war in Ukraine and the policies of Democratic-led states.

With rising diesel and gasoline prices emerging as a liability ahead of the November midterm elections, Trump has blamed the Ukraine war and urged European nations to release strategic reserves.

On Sept. 15, Trump said the global rise in diesel prices was "not Iran" but "mainly because of Russia and the war with Ukraine." On Sept. 21, he called for an end to the war, saying Russia had "unfortunately lost control of its diesel industry because of the war with Ukraine."

He then pressured France, Germany and other European nations, warning he could ban US diesel exports if they did not release their strategic diesel reserves. The G7, led by those countries, subsequently agreed to release 100 million barrels of strategic diesel and crude oil reserves.


mokiya@heraldcorp.com
This content was produced with the assistance of AI translation services.

MOST READ