President Donald Trump said Monday that a lack of refineries, particularly in Russia and California, is influencing gasoline prices, not the Strait of Hormuz.
\n\nTrump commented on gas prices twice on Monday. First, he referenced them in a Truth Social post, and later he discussed them with reporters on the South Lawn of the White House ahead of his departure for Joint Base Andrews.
\n\nHe was asked about Russian oil refineries a few hours later before boarding Marine One.
\n\n“We’ve talked about it, we have, and I think they’re slowing it down. But they are causing a lot of problems. The lack of refineries is the problem,” he said.
\n\n“We have tremendous amounts of oil coming out of the Hormuz Strait. We have that so good, but we have a lack of refineries because of the war, having to do mostly with diesel,” he added.
\n\nAs the war with Iran got underway and passage of ships slowed through the Strait of Hormuz — where about one fifth of the world’s oil travels through — gas prices began to rise.
\n\nAs NBC News reported, citing shipping data shared on Monday, “Gulf oil exporters topped prewar levels for about half of September.”
Original source: https://www.breitbart.com/economy/
