American Petroleum Institute CEO Mike Sommers discusses the national average price of diesel at $5.28 per gallon, oil prices and the impact of the Strait of Hormuz functionally being closed on 'Varney & Co.'
American Petroleum Institute CEO Mike Sommers addresses soaring diesel prices, currently $5.28 per gallon, due to the functional closure of the Strait of Hormuz. Sommers highlights the severe impact on American farmers and ranchers relying on diesel and facing rocketing fertilizer prices. He emphasizes that opening the Strait of Hormuz is the top priority for relieving these economic pressures and leveraging American energy leadership.
