Not just gas: Grocery prices could be hit by Strait of Hormuz closure

admin By admin 2026 年 3 月 15 日

**The Threat of Iranian Attacks on Ships in the Strait of Hormuz Disrupts Global Energy Supplies**

The threat of Iranian attacks on ships navigating the Strait of Hormuz is causing significant disruptions to global energy supplies and could soon push gasoline prices in the U.S. to new record highs. With the passage of oil tankers and cargo ships nearly halted in and around this strategically vital waterway, the cost of food—transported using oil and diesel—is also expected to rise if the closure persists, according to Bob McNally, a former White House energy adviser.

“It’s not like there’s a big gate that swings open in front of the Hormuz and Iran locks the gate,” McNally explained. “All Iran has to do is demonstrate every day, every other day, that it has the means and the ability to attack ships in the strait, and that will be enough.”

### Strait of Hormuz Situation: Stranded Ships and Rising Tensions

Approximately one-fifth of the world’s oil supply passes through the Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf. The strait is about 21 miles wide at its narrowest point, and on a typical day around 130 ships sail through, according to the Joint Maritime Information Center.

However, this flow changed dramatically on February 28, when the U.S. and Israel initiated airstrikes across Iran. Since then, traffic has nearly ground to a halt, leaving an estimated 20,000 crew members stranded on ships in the area.

Among the stranded are six cargo ships operated by German shipping giant Hapag-Lloyd, overseen by Capt. Silke Lehmköster, who manages a fleet of 300 vessels. These six ships, carrying items such as furniture, electronics, and clothing, were heading toward the strait at the start of the conflict.

Iran’s Islamic Revolutionary Guard Corps broadcast warnings to ships’ radios, stating it would attack any vessel attempting passage through the Strait of Hormuz. Taking the message seriously, Lehmköster called off her ships’ journeys. Despite this, one of her ships was struck by fire off a port near Dubai on March 12; thankfully, no crew members were injured.

Some vessels have attempted to cross the strait amid the tensions. On March 11, a Thai cargo ship was hit by a projectile after attempting to cross. Since the conflict began, there have been 16 confirmed attacks on ships in and around the strait, according to the International Maritime Organization, leading to at least eight deaths. Iran has claimed responsibility for several of these attacks.

Lehmköster and her team continue to monitor Hapag-Lloyd’s stranded ships from an operations center in Hamburg, with crews instructed to stay below deck as much as possible for safety.

### Why the Strait of Hormuz Is So Important

Among the roughly 700 ships at a standstill in the region, about 400 are oil tankers collectively holding 200 million barrels of oil, explained Matt Smith of Kpler, a firm that tracks global trade and shipping.

The Strait of Hormuz serves as the sole maritime route connecting the oil-rich countries of the Persian Gulf to global markets. On an average day, over 100 ships pass through the strait, but this number dropped to 70 when the bombings began, then fell into the teens, and now only a handful pass daily – mostly Iranian vessels loaded with crude oil bound for China.

Remarkably, Iran has increased its oil exports through the strait by 100,000 barrels per day compared to pre-war levels. Nine Iranian ships have reportedly bypassed detection by turning off their transponders, effectively sneaking through undetected.

The U.S. Energy Information Administration emphasizes that most oil volumes transiting the strait lack alternative exit routes.

McNally, who advised President George W. Bush during the Iraq War and now consults on oil and gas markets, dubbed the Strait of Hormuz “the mother of all choke points.” He likened the strait to “one artery taking lifeblood to the rest of your body.”

On March 14, Iran’s new Supreme Leader Mojtaba Khamenei stated on Iranian state TV that “the leverage of blocking the Strait of Hormuz must continue,” highlighting Tehran’s strategic posture.

### Impact on Prices and the Global Economy

Since the Strait of Hormuz’s effective closure, U.S. gas prices have risen more than 65 cents per gallon—the fastest weekly increase in two decades. The previous highest average price was recorded in 2022 following Russia’s invasion of Ukraine, noted McNally.

“If we don’t open up Hormuz soon, I can see us making new records,” he warned.

But it’s not only gasoline prices that have surged. Jet and diesel fuel costs have jumped by 25%, which is expected to lead to increased airfares and grocery prices.

“The gasoline we pay for at the pump—the price of that gasoline—is set in a global oil market,” McNally explained. “A supply disruption anywhere leads to a price spike for consumers everywhere, including here.”

### What Is the U.S. Doing About the Choke Point?

McNally, supportive of President Trump’s actions in Iran, suggested that managing the oil and gas market implications should be a priority from day one. “That means making sure we are attacking Iran’s ability to continue what it has done for some 12 days now, and may apparently do for an entire month.”

Despite the president’s assurances that the strait is “in great shape,” and that “we’ve knocked out all of their boats,” most ships remain reluctant to cross the waterway. The U.S. Central Command recently neutralized 16 so-called mine-laying boats believed to be used by Iran in the shipping lanes of the strait.

President Trump has also offered to cover risk insurance costs to reassure ship owners and suggested that the U.S. Navy could provide escort services, although such escorts are not expected soon due to ongoing military commitments.

Capt. Lehmköster expressed that insurance alone would not suffice and that she would prefer naval escorts. However, she noted that no U.S. Navy escort has been offered for her stranded vessels.

To help offset the shortage, the Trump administration announced a temporary lifting of sanctions on Russian oil to increase global oil supplies. Meanwhile, the International Energy Agency, comprising 32 member countries including the U.S., revealed plans to release 400 million barrels of oil from strategic reserves—a process expected to take several months.

Despite these efforts, McNally emphasized the limitations of such measures. He called the U.S. responses—naval escorts, strategic reserve releases, and gas tax holidays—“a side show.” Drawing on his experience during energy crises in the White House, he said bluntly, “There are no policy solutions to a prolonged closure of the Strait of Hormuz.”

**In Summary:**
The ongoing conflict and threats in the Strait of Hormuz have major implications for global energy security and economic stability. With a critical artery of the world’s oil supply effectively blocked, soaring fuel prices, disrupted supply chains, and rising costs for consumers are inevitable unless diplomatic or military resolutions restore safe passage through this strategic waterway.
https://www.cbsnews.com/news/iran-strait-of-hormuz-closure-impact-60-minutes/

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