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U.S. gasoline has surged 44% since conflict began, and analysts warn of $6.35 per gallon if supply worsens.
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With strategic reserves nearly exhausted and refining capacity offline, consumers face soaring prices and economic pain.
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IEA designates 11 million barrels per day offline as the Strait of Hormuz becomes impassable.
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From container freight rates up 40% to an $80 price floor, the Strait crisis is transmitting inflation to consumers worldwide.
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Brent crude has nearly doubled since January after US-led blockade triggered the worst energy crisis since 2022.
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International Energy Agency warns recovery of lost production could take two years as WTI barrels head toward $118.
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The old cushions — strategic reserves, spare capacity, producer discipline — are all stretched to their breaking point simultaneously.
