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.’
00:00 Intro: Diesel at $5.28 & Oil Prices
00:15 The Critical Impact of the Strait of Hormuz Closure
00:58 Double Whammy: Farmers & Agriculture Hit by High Costs
01:35 Geopolitical Priorities: Reopening the Strait
02:10 Gasoline Prices & Retail Market Lag
02:55 The Power of American Energy Production & Leadership
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