April 14, 2026 — CBS News
With gasoline prices climbing in the U.S. and around the world amid the war with Iran, Chevron executive Andy Walz advised Americans to reduce driving and conserve energy to help lower pump bills.
“People should try to drive less. They should try to conserve energy,” Walz, Chevron’s president of downstream, midstream and chemicals, told CBS News. “We should be doing that all the time. Energy’s essential for people’s lives, but we should conserve it.”
Since the conflict began at the end of February, ship traffic through the Strait of Hormuz — which carries roughly 20% of the world’s oil and gas — has fallen significantly. That disruption has helped push Brent crude, the global benchmark, toward about $100 a barrel in recent weeks.
Walz said there likely isn’t a single fix that will bring sustained relief to U.S. consumers while global oil prices remain elevated. “It’s a global market for crude,” he noted, adding that domestic supplies and refining do provide some buffer for Americans. “If this goes on for an extended period of time, it’s probably gonna get tougher.”
He also warned the ongoing crisis could create broader supply-chain problems. Countries in Asia and elsewhere that depend heavily on Middle East crude may struggle to obtain and refine the oil they need, Walz said, leaving them short of products and raising serious concerns beyond price spikes in the U.S.
Watch more of Andy Walz’s interview Wednesday on “CBS Mornings.”