Strait of Hormuz Closure Expected to Continue, US Energy Information Administration Raises Gasoline Price Forecast
The U.S. Energy Information Administration (EIA) has raised its gasoline price forecast, assuming the Strait of Hormuz will remain closed until late May and that a full recovery of crude oil supply will take months even after partial reopening in June.
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- 📰 Published: May 13, 2026 at 08:50
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US-Iran War Key News
Central News Agency
(Central News Agency Washington, 12th Comprehensive Foreign Report) The U.S. Energy Information Administration (EIA) stated today that they have raised their forecast for US vehicle fuel prices, based on the assumption that the Strait of Hormuz will remain closed until late May and that traffic will gradually resume from June, but it may take several months for transport volumes to return to pre-war levels.
Reuters reported that Iran's blockade of the Strait of Hormuz amidst its conflict with the US and Israel has caused a huge impact on the global energy market. Millions of barrels of Middle East energy exports are blocked daily, exacerbating fears of a global fuel shortage. In the United States, prices for gasoline, diesel, and other fuels have soared to multi-year highs, posing a significant political challenge for President Donald Trump, especially with the midterm elections approaching in November.
The EIA stated in its monthly Short-Term Energy Outlook report that the average US retail gasoline price is expected to be $3.88 per gallon this year (approximately NT$123, equivalent to about NT$32.5 per liter), an increase of about 18 cents (approximately NT$5.7) from the April forecast.
The EIA stated that this report assumes the Strait of Hormuz will remain closed until late May, with traffic gradually resuming from June, but it may take several months for transport volumes to return to pre-war levels. Before the war, the Strait of Hormuz accounted for about one-fifth of the world's crude oil supply.
The EIA pointed out that during April, a total of approximately 10.5 million barrels per day of crude oil supply from Iraq, Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, and Bahrain was interrupted.
The EIA stated that global oil inventories are expected to decrease by an average of 8.5 million barrels per day in the second quarter, which will keep Brent crude oil prices at a high level of approximately $106 per barrel in May and June. (Compiled by Tsai Chia-min) 1150513
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Central News Agency
(Central News Agency Washington, 12th Comprehensive Foreign Report) The U.S. Energy Information Administration (EIA) stated today that they have raised their forecast for US vehicle fuel prices, based on the assumption that the Strait of Hormuz will remain closed until late May and that traffic will gradually resume from June, but it may take several months for transport volumes to return to pre-war levels.
Reuters reported that Iran's blockade of the Strait of Hormuz amidst its conflict with the US and Israel has caused a huge impact on the global energy market. Millions of barrels of Middle East energy exports are blocked daily, exacerbating fears of a global fuel shortage. In the United States, prices for gasoline, diesel, and other fuels have soared to multi-year highs, posing a significant political challenge for President Donald Trump, especially with the midterm elections approaching in November.
The EIA stated in its monthly Short-Term Energy Outlook report that the average US retail gasoline price is expected to be $3.88 per gallon this year (approximately NT$123, equivalent to about NT$32.5 per liter), an increase of about 18 cents (approximately NT$5.7) from the April forecast.
The EIA stated that this report assumes the Strait of Hormuz will remain closed until late May, with traffic gradually resuming from June, but it may take several months for transport volumes to return to pre-war levels. Before the war, the Strait of Hormuz accounted for about one-fifth of the world's crude oil supply.
The EIA pointed out that during April, a total of approximately 10.5 million barrels per day of crude oil supply from Iraq, Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, and Bahrain was interrupted.
The EIA stated that global oil inventories are expected to decrease by an average of 8.5 million barrels per day in the second quarter, which will keep Brent crude oil prices at a high level of approximately $106 per barrel in May and June. (Compiled by Tsai Chia-min) 1150513
Choose to stand with facts. Every sponsorship is a force to protect press freedom.
Download the Central News Agency's "First-Hand News" APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.