Walking away from the Strait of Hormuz won’t make gas cheap again | CNN Business

The world economy is being held hostage by the de facto closure of the Strait of Hormuz. Gasoline, jet fuel and diesel prices have skyrocketed. Stock markets have tumbled, and recession odds have climbed. After weeks of trying and failing to reopen the critical waterway off the coast of Iran, President Donald Trump has floated a new idea: Walk away and let others clean up the mess. Trump told the New York Post on Tuesday that the Strait of Hormuz will “automatically open” after the US military exits the war. “Let the countries that are using the strait, let them go and open it,” Trump told the paper. Trump has told aides he’s willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed, the Wall Street Journal reported on Monday. “Go get your own oil!” Trump wrote in a Truth Social post on Tuesday. Trump told reporters later in the day that gas prices, which hit $4 a gallon for the first time since 2022 on Tuesday, would come down soon. “All I have to do is leave Iran, and we’ll be doing that very soon, and they’ll come tumbling down,” he said. Yet energy market experts tell CNN that ending the war without reopening