High gas prices are listed at Chevron gas station in Los Angeles amid the ongoing war with Iran on March 9, 2026. Frederic J. Brown/AFP via Getty ImagesGlobal oil market analysts expect the Trump administration to issue emergency measures “to attempt to lower prices” in the United States if the Strait of Hormuz isn’t reopened soon, says a veteran market monitor tracking trends that drive pump, grocery, and utility costs worldwide.Mohammad Darwazah, senior Middle East analyst with London-based Medley Global Advisors, said he believes that engaging the U.S. military in securing the Strait remains on the table as one of the emergency options.
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