By Heather Stewart
Publication Date: 2026-04-05 10:38:00
DOnald Trump’s most immediate concern as he calls on Iran to reopen the Strait of Hormuz may be the skyrocketing U.S. gasoline price, but if the conflict drags on, higher energy costs will be felt far beyond the pumps.
Systemically higher electricity prices and disrupted supply chains will put pressure on industries and consumers worldwide. For the USA, one consequence could be that the fragile economy of the AI boom is endangered.
Many oil-importing economies, particularly in the Global South, face a complete shortage of oil and its products. Shops in Egypt are facing curfews, Indonesia has ordered work from home on Fridays and the Philippines has declared a national energy emergency.
As a wealthy oil exporter, the USA can largely avoid these concerns. But as rising gas fees for U.S. cars show, it’s impossible to completely avoid the global rise in energy costs – which many analysts now believe will continue for months, even if the strait reopens within days.
As a result, many companies will…
