Trump shifts blame for rising gas prices to refineries Today, Trump redirected the reason for the continued rise in U.S. gas prices to refineries. On Truth Social, he said the driving factor is no longer the Strait of Hormuz, as crude oil is flowing out at “record-breaking” levels. The real issue, according to him, is Ukraine bombing Russian refineries and “blue states” like California shutting down U.S. refineries. In reality, Iran cutting off access to the Strait of Hormuz remains a significant backdrop for rising energy prices. Ukraine’s attacks on Russian energy infrastructure have indeed pushed prices higher, with diesel being particularly affected. Damaged and closed refineries do tighten the supply of refined products, but current evidence doesn’t support the claim that the Strait of Hormuz is no longer a major factor. Whether crude oil can be exported is one issue; whether refineries can turn crude into gasoline and diesel is another. Even if crude exports recover, if refining capacity is damaged or deliberately reduced, prices for refined products could still remain high. This time, Trump shifted the focus from supply issues at the Strait to refinery bottlenecks, but placing all the blame on Ukraine and the Democrats is clearly just passing the buck. One @Gate, trade more markets.