economy
A Strait of Hormuz "toll" would pose major economic and geopolitical risks, experts say
Updated on: April 10, 2026 / 12:08 PM EDT / CBS News
TL;DR
- Iran's Islamic Revolutionary Guard Corps may be implementing a "toll booth" regime in the Strait of Hormuz, requiring documentation and clearance.
- Iran has indicated it could charge vessels a fee for safe passage under a long-term peace deal for the strait.
- The Strait of Hormuz normally accommodates about 20% of the world's oil and liquefied natural gas supply.
- Shipments through the strait have significantly decreased, with tanker traffic falling from over 100 ships per day to around 10.
- Analysts suggest a toll could amount to $1 per barrel, potentially generating millions for Iran per tanker.
- While a toll might not drastically increase the marginal cost of oil production, it could create a persistent risk premium in oil prices.
- Increased insurance rates and freight costs due to heightened risk could transfer additional expenses to consumers.
- Damage to oil and natural gas facilities in the Gulf is considered a more significant factor for oil prices than potential tolls.