President Trump is trying to reassure Americans that lower prices at the pump are incoming, even as the Iran War rages on and the Strait of Hormuz remains effectively closed. But he is wrong. It simply cannot be done.

Approximately 20 percent of the world's liquid petroleum consumption typically moves through the Strait of Hormuz from countries in the Persian Gulf. Since the war began, that flow has slowed to a trickle. Of the few tankers getting through the Strait, many are sanctioned by Western governments for their ties to Iran. Because the oil market is global, and prices are set ...

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