"BAIER: So that's what he said. The national average of gas prices, currently at $3.98. A month ago, $2.98. Year ago, $3.15. That's definitely true for oil, the percentage that goes through the Strait for the U.S."
"BAIER: Obviously a lot of other countries get large, large percentages that go through the Strait. And that affects the trade that we do with them and what the cost is of those items, plus about 50 percent of the world's urea exports go through the Strait."
"JOHNSON: We're concerned. And that's why we've got to get it resolved quickly. Our farmers have had a tough road to hoe. We're trying to get the farm bill done here."
"BAIER: We can get control back over the price of fertilizer, the price of fuel, if we get that Strait straightened out."
Bret Baier challenged President Trump's claim that the U.S. does not need the Strait of Hormuz during an interview with Speaker Mike Johnson. Baier highlighted the importance of the strait for U.S. gas prices and global trade, noting that a significant percentage of oil and fertilizer exports pass through it. Current gas prices have risen significantly, impacting farmers and the economy. Johnson acknowledged the need to resolve issues related to the strait to stabilize prices for fuel and fertilizer, emphasizing the urgency of the situation for farmers.
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