Oil Executives Warn of Summer Price Shock Amid Rising Tensions

Oil industry executives are warning of a potential surge in fuel prices as tensions involving Donald Trump and Iran continue, alongside disruptions in the Strait of Hormuz, Tom Boggioni reported for Raw Story.

Fuel prices are expected to rise as global oil supply faces pressure from geopolitical tensions.

“There’s a day of reckoning coming,” said an industry executive, pointing to tightening global supply and rising crude prices.

Energy analysts cited by Politico warned that gasoline prices could spike sharply during the summer driving season. Dan Pickering, chief investment officer at Pickering Energy Partners, said higher pump prices will likely “hit people in the face,” catching consumers off guard.

The timing could carry political consequences, with another potential spike around Memorial Day seen as particularly sensitive.

A senior administration official downplayed the concerns, saying there is hope prices could stabilize or even decline.

However, Rosemary Kelanic of Defense Priorities warned that overly optimistic messaging could backfire if markets tighten further, leaving insufficient time for producers to ramp up supply.