War, Hormuz and the Fuel Price Shock

After US and Israeli strikes on Iran and the closure of the Strait of Hormuz, oil markets have been on a rollercoaster. While crude has rallied above $100/b, refined fuels have surged even more sharply. In this episode of the Oil Markets Podcast, host Jeff Mower , Director of Americas Oil News, is joined by Senior Refining Editor Janet McGurty and Senior Refined Products Price Reporters Ben Peyton and Laura Huchzermeyer to break down what's driving the spike in diesel, jet fuel, and gasoline prices. Is California heading toward a fuel shortage as refinery closures and global disruptions collide? How vulnerable is the West Coast fuel market, and why is it often described as an "energy island"? Could high diesel, jet, and gasoline prices start hitting the broader economy?

You can listen to War, Hormuz and the Fuel Price Shock online on Radio and Podcast. Open the player on this page to stream the available audio.

War, Hormuz and the Fuel Price Shock is an episode from Oil Markets by S&P Global Commodity Insights.

This episode is 23:01 long.

This episode was published on Mar 12, 2026.

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