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Bloomberg
Bloomberg
US · 37 mins ago
72◉ Centre
Strait 'Only Lever' on Gas Prices: Kloza
72Accuracy
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AI Analysis
Accuracy 72/100
Partisan intensity 35/100
ObjectivePartisan
◉ Centre ✓ Fair headline

Tom Kloza, Chief Energy Advisor at Gulf Oil, argues that reopening the Strait of Hormuz is the most impactful lever for controlling US fuel prices, warning gasoline could exceed $5 per gallon this summer if the strait remains closed, while dismissing federal gas tax pauses as ineffective.

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Strait 'Only Lever' on Gas Prices: Kloza
Tom Kloza, Chief Energy Advisor at Gulf Oil, says reopening the Strait of Hormuz is "the only lever you can pull that has a major impact" on fuel prices, warning gasoline could reach $5 a gallon or higher this summer if it stays closed. He says pausing federal gasoline taxes would have limited impact and could be difficult to reinstate once halted. Kloza also cautions hurricane disruptions could push prices to "an apoplectic level." He speaks with Kailey Leinz and Joe Mathieu on the late edition
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