Why fuel prices may go higher still

Seven months into the US conflict with Iran, with no clear end in sight, the global oil market has now largely exhausted the safety measures that exist to keep a lid on petroleum prices.

By: Joshua Busby, The University of Texas at Austin and Greg Pollock, Georgetown University, The Conversation

Outlets: The Conversation

Published: September 28, 2026

Words: 1,446

Last Updated: 2 weeks, 6 days ago

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By Joshua Busby, The University of Texas at Austin and Greg Pollock, Georgetown University

If you think your energy costs are high now, the situation may be about to get a whole lot worse.

With traffic in the Strait of Hormuz – normally the primary route for oil leaving the Middle East – hovering below 15% of prewar levels, oil prices have increased from US$65 a barrel before the conflict in Iran began in …

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