US President Donald Trump has once again linked the rise in fuel prices in the United States to Ukrainian strikes on Russian oil refineries. In a new post on Truth Social, he stated that the main problem is no longer the Strait of Hormuz, but a shortage of refining capacity — in particular due to Ukraine’s strikes on Russian oil refineries and the closure of some American refineries. Prices rose sharply primarily following supply disruptions caused by the war with Iran, whilst the Ukrainian attacks have been an additional factor, particularly for the diesel market.
- Trump claimed that Ukrainian strikes on Russian oil refineries are contributing to rising fuel prices in the US.
- The US President believes that the Strait of Hormuz is no longer the main cause of rising prices.
- Trump also blamed the situation on the closure of oil refineries in the US, particularly in California.
- Prices were influenced by a number of factors, including the war in Iran and the attacks on Russia’s energy sector.
Trump identified oil refineries as the main problem
In his post Trump stated that the situation with supplies via the Strait of Hormuz, in his view, is gradually stabilising. At the same time, he highlighted another problem — oil refineries.
The US President highlighted two groups of companies: Russian oil refineries, which Ukraine regularly attacks, and American factories that are closing down or scaling back operations. Separately, Trump mentioned California once again and blamed the Democrats for some of the closures.
This is not the first time the US President has made such a statement. In September, he also linked the rise in global diesel prices to Russia’s war against Ukraine and called on Kyiv to stop striking Russian energy facilities.
The rise in prices was due to a combination of factors
Trump’s assessment does not imply that Ukrainian strikes are the sole or main cause of the current rise in prices. Energy prices rose sharply after the war with Iran disrupted traffic through the Strait of Hormuz — a route through which, under normal circumstances, around one-fifth of global oil supplies. Ukraine’s strikes on Russian oil refineries have also reduced the availability of finished fuel on the market. This has had the most noticeable impact on diesel.
The price of diesel fuel in the US last month stood at approximately $6.50 per gallon, which was a record high. As a result, the Trump administration is preparing additional measures to increase the availability of fuel, including a possible expansion of the use of tax-reduced diesel.
Ukraine has stepped up its attacks on Russian oil refineries
The Ukrainian Ministry of Defence has stated that long-range strikes have already put out of action around 51% of Russia’s oil refining capacity. According to the International Energy Agency, diesel production in Russia fell by approximately 30%. Some oil refineries have been hit by repeated attacks, and the most complex equipment can take months to repair once damaged. In response, Russia has restricted diesel exports, which has further reduced supply on the global market.
Zelenskyy stated that the attacks on the oil refinery would continue
Despite US warnings, Ukraine has not abandoned its campaign against Russian energy infrastructure. The President Volodymyr Zelenskyy stated that the strikes on the oil refinery were a response to Russia’s new tactics for attacking the Ukrainian energy sector, logistics and urban infrastructure.
Oil refineries directly supply the Russian army with fuel and, at the same time, remain one of the sources of revenue for waging war.
