Trump says Strait of Hormuz no longer driving gasoline prices

US President Donald Trump said the Strait of Hormuz is no longer the reason for rising gasoline prices, attributing the increase instead to refinery issues.

Trump reiterated that the rise in oil prices is due to Ukrainian strikes on Russia, not the conflict in the Middle East.

His comments came as crude oil continued to flow through the Strait of Hormuz and shipping operations remained active ahead of the US midterm congressional elections.

However, attacks on three fuel-carrying vessels in the strait, despite US Navy efforts to protect them, have raised concerns about the security of oil tankers and the potential for renewed global fuel price increases.