Chevron executive says 'people should try to drive less' amid Iran war [View all]
Source: The Hill
04/15/26 10:29 AM ET
Chevron executive Andy Walz said that “people should try to drive less” to offset higher energy prices during the U.S. military operation in Iran. “People should drive less. They should try to conserve energy,” Walz told CBS News this week. “We should be doing that all the time,” he continued. “Energy’s essential for people’s lives, but we should conserve it.”
Global energy rates have spiked during the Middle East conflict, after Tehran launched retaliatory strikes on U.S. targets and energy infrastructure in the Gulf Region after Operation Epic Fury began on Feb. 28. These attacks effectively halted the flow of ships through the Strait of Hormuz, a major oil transportation corridor. As a result, the price of international benchmark Brent crude oil skyrocketed to $118 at the end of March. The average price of standard gas in the U.S. has also hiked up amid the conflict, exceeding $4 a gallon at the end of last month.
A temporary ceasefire between the U.S., Israel and Iran has somewhat cooled energy markets. However, the Iranian regime has still attempted to exert dominance over the critical waterway by imposing pricey tolls on oil-carrying vessels. President Trump announced a naval blockade on all ships traveling through the strait this week. On Wednesday morning, a barrel of Brent was trading at $95 and U.S.-produced West Texas Intermediate crude oil was trading at just under $99 a barrel. The U.S. average of standard gas prices stood at $4.11 per gallon.
Walz acknowledged during a CBS interview that there is likely no “silver bullet” to bring back down long-term prices in the U.S. “It’s a global market for crude,” he told the outlet. “We have crude here, that’s closer to us, that we’re all processing and using. That’s helping Americans buffer their price. … If this goes on for an extended period of time, it’s probably gonna get tougher.”
Read more: https://thehill.com/policy/energy-environment/5832148-chevron-iran-war-gas-prices/
Meanwhile they are making billions in profits every quarter.
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