Trump Is Bombing Iran Again, Hormuz Toll Fantasies — EV Revolution Back On?

Renewed fighting between the US and Iran is stirring up gas prices again, and that has some homeowners rethinking whether to go electric. The US resumed bombing Iran, with a new war declared to Congress on July 10, and President Trump has floated the idea of the US charging a 20% toll on cargo passing through the Strait of Hormuz, the narrow waterway that carries about a fifth of the world's oil. Iran controls much of that strait, so experts say the plan faces serious obstacles. Ship traffic through the strait has already dropped sharply, with reports of just 22 ships crossing last week, an 85% drop from before the war.

Gas prices peaked at $4.56 a gallon in May, then eased to $3.86. With the conflict reigniting and oil traffic disrupted again, prices could climb once more. That uncertainty pushed a wave of EV purchases worldwide during the last round of fighting, in countries including the US, China, and Australia, and it may be happening again now.

For a homeowner, the direct link is mostly about transportation costs rather than anything happening at your house. If you're weighing an electric vehicle, this kind of oil-price volatility is one more reason some households are deciding sooner rather than later. It doesn't change anything about home energy upgrades or rebates directly, but cheaper, more predictable fuel costs are part of why EVs keep coming up in those conversations.