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Iran’s Parliament Speaker Mohammad Bagher Ghalibaf mocked the U.S. move to blockade the Strait of Hormuz following failed talks in Islamabad, hinting that gasoline prices could soon soar further, with prices already rising above $5 per gallon.
Ghalibaf took aim at Washington’s latest move by posting a screenshot of gasoline prices near the White House, showing rates between $4.10 and $5.8 per gallon. He suggested those figures may soon appear cheap if the situation escalates. "Enjoy the current pump figures… soon you’ll be nostalgic for $4–$5 gas,” he wrote on X..
He also shared a cryptic formula, suggesting that any escalation around a blockade of the Strait of Hormuz would push oil prices even higher.
The remarks came as the United States signaled it will begin enforcing a sweeping naval blockade on maritime traffic linked to Iran, particularly around the Strait of Hormuz. The operation is set to start at 10 a.m. ET, targeting vessels entering or leaving Iranian ports across the Arabian Gulf and Gulf of Oman.
U.S. Central Command indicated the restrictions would apply to ships of all nations using Iranian ports, outlining a broad enforcement scope. At the same time, officials stressed that global shipping routes would remain open and that vessels transiting the Strait of Hormuz to non-Iranian destinations would not be disrupted.
Commercial shipping in the region has been urged to stay alert and maintain contact with U.S. naval forces while navigating key waterways.
The escalation followed the breakdown of ceasefire talks between Iran and the United States in Islamabad. Negotiations, mediated by Pakistan, ended without agreement after multiple rounds failed to resolve key differences.
Both sides signaled that further diplomatic efforts may be required, leaving the situation unresolved under a fragile two-week ceasefire tied to the broader conflict that began on Feb. 28.
Earlier, U.S. President Donald Trump acknowledged that energy prices could remain elevated through the November midterm elections. "It could be, or the same, or maybe a little bit higher, but it should be around the same," he said in an interview with Fox News.
However, March inflation data showed gasoline prices rose 21.2% in one month, pushing the annual rate to 3.3% from 2.4% in February and complicating the economic outlook as the Fed’s expected rate cuts are likely to be delayed.
Data from the American Automobile Association showed that average U.S. gasoline prices exceeded $4 per gallon for much of April, compared to levels below $3 in February.
Global oil prices remain elevated at around $100 per barrel as disruptions in the Strait of Hormuz, a corridor that normally carries about a fifth of global energy supply, have brought flows to a near halt since the war began on Feb. 28.
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