Joint Task Force Southern Spear conducted a lethal strike in the Eastern Pacific, according to a post made on Dec. 12, 2025. ( U.S. Southern Command/X)
In addition to a decrease in oil production, U.S. prices could also go up because of the type of oil that comes from Venezuela, according to Book. That’s because oil refineries in the U.S. Gulf Coast are dependent on heavy sour oil, which comes from countries like Venezuela, Mexico and Canada.
"Venezuela currently produces more than a million barrels per day, approximately one percent of global supply," Book said. "But more importantly, second point, Venezuela's oil is of a specific grade that is particularly useful for refineries in America's Gulf Coast. And so the gasoline we produce and export to the world, manufactured from that grade of oil, could become slightly more expensive, not just because oil is off the market, but because a specific grade is also not available."
"Losing that crude stream in short could raise the price of production at those refineries," Book said.
Book predicted a full disruption of Venezuelan oil production could mean Americans would see a price hike between $0.05 and $0.18 a gallon for gas. If the disruption caused Venezuela to retaliate and strike oil production facilities within Guyana, a U.S. ally, costs could rise even more steeply amid a regional disruption, he warned.
"But there might not be a disruption of either producer, depending on the character of any escalation," Book said.
It’s unclear what the administration has planned in Venezuela amid its crusade against the influx of drugs into the U.S., and the White House has refused to provide comment to Fox News Digital on whether the Trump administration is seeking a regime change.
US RENEWS 'DO NOT TRAVEL' ALERT OVER TERRORISM, KIDNAPPING AMID TRUMP NARCO-TERROR FIGHT
Treasury Secretary Scott Bessent also signaled a potential peace deal between Ukraine and Russia, as well as positive changes within Venezuela, could lead to lower gas and oil prices. (Eric Lee/Bloomberg via Getty Images)
The U.S. seizure of a Venezuelan oil tanker Wednesday marks a major escalation in relations with Caracas.
"We've just seized a tanker on the coast of Venezuela. Large tanker, very large," Trump said Wednesday. "Largest one ever seized action. And, other things are happening. So you'll be seeing that later. And you'll be talking about that later with some other people."
The Trump administration has conducted more than 20 strikes in Latin American waters since September targeting alleged drug smugglers in an effort to combat the flow of drugs into the U.S. Trump has signaled for months that strikes on land could be next.
"We’re knocking out drug boats right now at a level that we haven’t seen," Trump said Dec. 3. "Very soon we’re going to start doing it on land too."
AS TRUMP’S STANDOFF WITH MADURO DEEPENS, EXPERTS WARN THE NEXT MOVE MAY FORCE A SHOWDOWN
The last confirmed strike occurred Dec. 4 — the most recent since Nov. 15. The strikes have attracted scrutiny from Democrats and some Republicans, amid questions about their legality.
"We've only just begun striking narco-boats and putting narco-terrorists at the bottom of the ocean because they've been poisoning the American people," Secretary of Defense Pete Hegseth said Dec. 2.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Separately, gas prices have dropped to a new low. The national average for regular gas fell to $2.99 on Dec. 1, AAA reported. It marked the first time prices had gone below $3 a gallon in four years.
Fox News’ Kristen Altus contributed to this report.
Diana Stancy is a politics reporter with Fox News Digital covering the White House.
https://www.foxnews.com/politics/us-venezuela-showdown-threatens-jolt-gas-prices-what-could-spark-surge