Gas prices will remain high for some months even if the war with Iran ends, experts say
Specialists comment that when the Strait of Hormuz reopens there will be an instant drop in the price of crude oil, but not gasoline.
Amid a fragile truce and ongoing war negotiations with Iran, economists say the price of gas in the United States will remain high for some months even if the conflict were to end soon.
Since the conditional closure of the Strait of Hormuz, through which nearly 20% of the world's crude oil transits, the prices of both oil and gasoline have become more expensive and the latter is already being hurt by the pockets of American consumers, who are paying more than twice as much for fuel as they did a few months ago.
Currently, according to AAA data, the average price of gasoline is $4.26 per gallon compared to $2.50 before the war; However, in some states such as California and Washington the cost per gallon reaches $6.
In this sense, Patrick De Haan, GasBuddy oil expert, commented that prices will be regulated depending on when ships begin transiting the Strait of Hormuz, but for the specialist, "it will be a very long process, from several months to several years, until the situation is completely normalized. We will not see those levels until possibly mid or late 2027," he told CBS.
In this regard, Jennifer Li, senior geopolitical analyst at Rystad Energy, added that it will take time to recover oil tanker flows through the Strait of Hormuz and for refineries to operate at full capacity again.
The strait was closed between late February and early March as a retaliation and response by Iran to attacks by the United States and Israel. Although a truce was achieved in April for a reopening of commercial traffic, the situation remains tense with strict controls and strong traffic conditions.
For De Haan, once the strait reopens, the producing countries will need weeks to reactivate, since, according to the expert, most of what arrives through the strait will be used to satisfy demand. "Recovery of reserves will take longer. It could be months before that oil reaches the market. This is something that is a long-term development."

