July 15, 2026 — Global shipping rates continue to be high as the ongoing conflict between the U.S. and Iran drives up costs, and the latest attacks by Iran on vessels in the Strait of Hormuz could cause more issues.
Trans-Pacific shipping rates appeared to moderate in early July, as spot rates for certain major routes stayed relatively flat after months of steady increases, according to shipping rate indexing and analysis firm Xeneta.
April 3, 2026 — Oil prices have surged above $100 a barrel since the U.S. and Israel began the war with Iran, with tankers stuck in the Strait of Hormuz.
Those disruptions mean Hawaii drivers are paying a lot more to fill up their tanks. AAA says a regular unleaded gallon of gas averages about $5.50, up more than a dollar from last month — a 20% jump.
Some drivers say they’re riding out the price surge as they’ve done in past years.
“We continue to do what we do, shop, shop, shop,” said Honolulu resident Michael MacDonald. “I’m sure we’re going to see it come down. Eventually, quickly, I hope.”
Liza Blum of Waipio hopes to save money by not driving as much. It now costs $10 more to fill up her SUV, which lasts about 10 days.
“It’s very hard on our pocket,” she said. “I don’t go out anymore. I just go home and work and groceries and like that.”
March 2, 2026 — U.S. and Israeli strikes on Iran have had an immediate effect on global trade patterns as both air and ocean routes in the region have closed.
FreightWaves reported ocean shipping lines have “fled” the Strait of Hormuz, which is the narrow route between Iran, Oman, and the United Arab Emirates. Iran announced it planned to “close” the strait, according to media reports, which was followed by reports of attacks on ships.