I'm reasonably certain the price is somewhat lower here because 1)We in the USA still have some 'local' sources and refining capacity and 2)It would be a serious burden on trucking companies due to the VERY long distances involved in commerce in the USA.. (and to people like ranchers and others in Western states)- who may need to drive many thousands of miles per year just to survive.

I don't know how life will change if supply diminishes a lot and prices rise a lot, but changes will be major. The luxury of quick airline travel to visit Grandma 'might' be severely curtailed.