The factoid thrown around is that roughly 20% of the world’s oil supply travels through the Strait of Hormuz. Since it closed, my local gas prices in one area of the US midwest have gone from $2.60 to now $4.10 presumably as reserves have been used up.
I could understand a 20~30% increase in price to correlate with the reduction in supply, but what are the economic factors that lead to what feels like such a disproportionate increase?
No, of course not. But that’s not a very charitable take, is it? Obviously the sinking ship situation goes away with the life jackets and the setting for buying the Pokémon cards is more typical, like a convention or a hobby store.