Vice President JD Vance attributed elevated U.S. gas prices to Joe Biden's administration losing roughly 20% of American refining capacity, as well as Iranian disruptions to shipping in the Strait of Hormuz.

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High gas prices and rising living costs driven by the U.S. war on Iran, ongoing since February, have put Republicans on the defensive ahead of the November 3, 2026 midterm elections

An October 2026 Moody's estimate found that surging fuel prices, airfares, and mortgage rates tied to the U.S. war on Iran, ongoing since February, cost each American household an average of $2,000

Public dissatisfaction with affordability, inflation, and high gas prices stemming from the Iran war has driven down President Donald Trump's approval ratings ahead of the midterms

Average U.S. gas prices reached $4.26 per gallon on October 21, 2026, up almost $1.21 from the prior year following U.S. strikes on Iran and conflict in the Strait of Hormuz, according to AAA

Alberta holds the world's fourth-largest proven oil reserves and sends approximately 90% of its crude oil exports to the United States.

U.S. officials stated that Iran increased attacks on ships in the Strait of Hormuz to raise global oil prices and pressure President Donald Trump before U.S. midterm elections.

The Iranian government is withholding salaries, pensions, and benefits from public-sector workers, internal security forces, and Islamic Revolutionary Guard Corps personnel due to financial strain.

The Islamic Revolutionary Guard Corps reported that an oil tanker carrying over two million barrels of crude oil caught fire after striking a mine while transiting the Strait of Hormuz on October 17, 2026.

U.S. Central Command chief Adm. Brad Cooper stated that 400 ships carrying 100 million barrels of oil transited the Strait of Hormuz during the second week of October 2026.

The U.S. naval blockade has cost Iran an estimated $25 billion in lost crude oil export revenue since the war began.

U.S. Central Command Commander Adm. Brad Cooper stated that the Islamic Revolutionary Guard Corps is failing to pay its own military troops amid severe financial strain.

Secretary of State Marco Rubio stated on October 17, 2026, that Russian diesel would have been sold regardless of U.S. intervention and that the 60-day sanctions pause allows evaluation of economic impacts.

The Trump administration authorized certain transactions involving Russian diesel on October 9, 2026, to allow Russia to supply diesel to U.S. and global markets.

Ukrainian drone strikes targeting Russian oil refineries, including an oil-loading terminal linked to the Novoshakhtinsk refinery in Rostov-on-Don, have disrupted Russian diesel production and global energy supplies.

Average gas prices in the United States reached $4.31 a gallon on October 17, 2026, representing an increase of nearly 45 percent since the start of the U.S. war with Iran.

President Donald Trump criticized Ukrainian drone strikes on Russian oil refineries, attributing them to rising domestic U.S. diesel prices.

U.S. national average gas prices reached $4.28 per gallon and diesel reached $6.32 per gallon following U.S. and Israeli military strikes on Iran in February 2026.

The United States launched a retaliatory naval blockade targeting Iran-linked shipping in April 2026 following an Iranian blockade in the Strait of Hormuz.

U.S. Central Command chief Adm. Brad Cooper stated that U.S. forces have helped escort and usher out more than one billion barrels of oil through the Strait of Hormuz.

Islamic Revolutionary Guard Corps Navy Chief Adm. Ali Ozmai warned in October 2026 that any vessels turning off tracking systems while transiting the Strait of Hormuz would be considered hostile.