Iran's Hormuz blockade causes oil prices to rise in nearly 150 countries People around the world are facing higher prices at the pump due to the war and the Hormuz Strait blockade. According to Al Jazeera's statistics, since late February, at least 146 countries or regions have reported increases in gasoline prices. Here are the top 60 countries or regions with price hikes—each seeing at least a 4% increase. This is why I keep emphasizing that Iran's continued blockade of the Hormuz Strait isn't just an issue with the U.S.; it's a challenge to the entire world. The longer Iran maintains the blockade, the greater the pressure they'll face, and the less likely they are to sustain it for much longer. Oil prices are bound to drop, so shorting at the highs—at least in my opinion—is the right move. Bitget: Join and you're a VIP! Crypto, U.S. stocks, CFDs—global opportunities, all in one place.