Fox News guest: “I think we'll see gasoline prices going up from here”
Kevin Book: “If we're looking at weeks, we could be inside of, you know, dimes to quarters. If we're looking at months, we could start to talk about dollars”
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Citation
From the April 2, 2026, edition of Fox News' Special Report with Bret Baier
BRET BAIER (CHIEF POLITICAL ANCHOR): The question there is — even though the president says this is going to be quick, and he puts it at 2 or 3 weeks, does, as the president says, the price jump back or does the Strait need to be straightened out completely before we see any move in oil prices?
KEVIN BOOK (GUEST): What is happening right now is a very, very significant interruption in the global supply system. And that means that inventories all over the world are drawing down. Those inventories will need to be replenished for prices to go back to something like what we thought of as normal. So, the price does move. It moves, among other things, Bret, on what the president says, because he's a pretty important part of what's happening in the Middle East right now. But that's not the only thing to change the price. Getting back to a normal supply and demand balance and normal inventories can take months.
BAIER: Okay. We'll watch it. If you were to look in your crystal ball, I ask you this at the end of every interview, where do you see it?
BOOK: Bret, I'm sorry to say, I think we'll see gasoline prices going up from here.
BAIER: And is that a dollar? Is that 50 cents? What is it?
BOOK: Well, you have to tell me how much longer the Strait stays closed. If we're looking at weeks, we could be inside of, you know, dimes to quarters. If we're looking at months, we could start to talk about dollars.
BAIER: That's significant, if true.