Chevron executive Andy Walz has recommended that Americans reduce their driving to save money on gasoline amid surging fuel prices. Speaking to CBS News, Walz highlighted the importance of energy conservation as a key strategy for consumers facing higher costs at the pump.
Walz, president of Chevron’s downstream, midstream, and chemicals divisions, emphasized the ongoing global factors driving fuel price increases. Since late February, the war in Iran has significantly disrupted maritime traffic through the Strait of Hormuz, a critical transit point for about 20% of the world’s oil and gas supply. These disruptions have contributed to the recent spike in the price of Brent crude oil, which has settled near $100 per barrel.
“People should try to drive less. They should try to conserve energy,” Walz said. “We should be doing that all the time. Energy’s essential for people’s lives, but we should conserve it.”
Walz noted that there is likely no singular solution to bring down gas prices while global crude oil prices remain elevated. Although the United States benefits from processing its domestic crude supply—which helps buffer prices for American consumers—prolonged international supply constraints could intensify the situation.
He also expressed concerns about the broader implications of supply shortages in other parts of the world. “America is more reliant on local production, but there are countries in Asia and other parts of the world that rely heavily on Middle East crude,” Walz explained. “They can’t get it. They can’t refine it. They can’t make the products people need, and they’re starting to run out. And that is a real problem.”
Why it matters
Walz’s comments underline the global interconnectedness of oil markets and the challenges of managing fuel prices amid geopolitical tensions. The war in Iran and the resulting supply disruption have raised concerns not only about higher consumer fuel costs in the U.S. but also about shortages in other regions that depend heavily on Middle Eastern crude. For American drivers, adopting energy-saving habits like reducing unnecessary trips could help alleviate some financial stress while broader solutions remain limited.
Chevron’s executive perspective reflects a realistic outlook on market constraints, reinforcing that consumers’ individual actions remain an important tool in managing energy costs during volatile periods.
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