Cost per day of VLCC lease (Very Large Crude Carrier--capacity of 200k barrels and up) per basic Google search:

As of early 2026, Very Large Crude Carrier (VLCC) leasing rates have reached unprecedented, record-high levels, with spot rates varying wildly from over $100,000 per day for standard charters up to $400,000+ per day for specific high-risk,, short-term routes. One-year time charters are currently locked in at rates ranging from roughly $76,900 to over $105,000 per day.

Start at ANNUAL rate: 365 days x $100k/day = $365,000,000. 2 yrs = $730,000,000.

Same ship, same capacity (duh), and same rate per DAY ($100k/day).

US to ASIA cost:

ONE run US to Asia 52 days, so 104 days for round trip = 3.5 round trips.
Make it a 2-yr deal and that is 7 round trips for $730-million.
$100+million per round trip.
$100-million trip divided by 200-million barrels.
About 50-cents per barrel.
50-cents/barrel divided by 42-gallons/barrel =
More than 1-cent per gallon.

Middle East to Asia cost:

ONE run Middle East to Asia = 22 days, so 44 days for round trip = about 8 round trips/yr
$365M divided by 8 round trips= $45-million/trip.
$45-million divided by 200-million barrels = $0.225 per barrel.
0.225/barrel divided by 42 gal/barrel
.0056-cents per gallon.

Shipping from the Middle East is LESS THAN HALF THE COST/PRICE at current rates.