geopolitical-energy-impact

Al-Monitor

EIA Raises 2026 U.S. Gasoline Price Forecast by 18 Cents Amid Red Sea Conflict and Strait of Hormuz Disruptions

The U.S. Energy Information Administration released its monthly short-term energy outlook on May 12, 2026, assuming the Strait of Hormuz will stay effectively shut through late May. The agency raised its 2026 U.S. retail gasoline price forecast to $3.88 per gallon. Brent crude is…

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