Exxon warns gas prices could rise sharply without Hormuz access
An Exxon executive stated that U.S. gasoline prices could rise by an order of magnitude within weeks if the Strait of Hormuz is not reopened.
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Higher gasoline prices directly raise household transportation and commuting costs while affecting broader energy-intensive sectors of the economy.
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An Exxon executive stated that U.S. gasoline prices could rise by an order of magnitude within weeks if the Strait of Hormuz is not reopened.