National

Could Gas Prices Soar By Double Digits Amid Iran-Israel?

NASSAU, BAHAMAS – Rising geopolitical tensions could soon be reflected at the fuel pumps in The Bahamas, according to one local gas station owner who’s sounding the alarm about potential price hikes.

Published

6 months ago

June 24, 2025

Delvardo Emmanuel

Bernard Dorsette – Owner, Porky’s Gas Station
“Do you foresee a possible rise at the fuel pumps? Uh, let’s hope not, Let’s hope not. If it rise here, it rise in America, it rise everywhere in the West, ’cause you know, that’s where our fuel come from.”

That was the response from longtime gas station operator Bernard “Porky” Dorsette, who says global instability is once again putting pressure on oil prices. Earlier this week, international reports indicated oil prices jumped nearly twenty dollars a barrel following a military strike inside Iran, sparking fears of broader regional conflict.

At the center of those concerns is the Strait of Hormuz, a narrow but vital waterway responsible for transporting nearly 20 percent of the world’s oil supply.

Bernard Dorsette – Owner, Porky’s Gas Station
“We’re talking about closing the Gulf of Hormuz, and that’s where all the gas, that’s where all those ships travel. Come through the Gulf. And they were talking about blocking that. I mean, that would, of course, maybe cause a major problem in supply. You know, that way the Russians will probably be able to get their price up.”

Dorsette says that even the threat of a blockade is enough to cause global markets to react, and if prices spike in North America, Bahamian consumers are likely to feel the effects soon after.

Bernard Dorsette – Owner, Porky’s Gas Station
“I see where the Canadians have stopped sending Americans their fuel, so that in itself is gonna be some kind of effect. The Canadians decide they can send the fuel to Russia and Europe and send it to the Chinese. So you know, what’s going on in the world is, the whole world has gone crazy, and we just a part of it.”

It’s been just over seven months since petroleum dealers in The Bahamas received a long-awaited margin increase, and Dorsette says station operators were only beginning to stabilize after operating on razor-thin profits.

Bernard Dorsette – Owner, Porky’s Gas Station
“Those few cents, as little as they were, you know, they were, a lot of people were on the brink. And you know, that somewhat helped a lot of our dealers. When I talk to them, a lot of ’em be a little more comfortable than they were, you know, so they’re thankful for what happened. And hopefully, we don’t have to do that again.”

While hopeful that prices remain steady, Dorsette is keeping a close eye on developments abroad, knowing that what happens half a world away could soon hit home.