On the supply side the US isn’t much affected, it can supply it’s own, the US producers have sensibly been taking the opportunity to sell into the global market to get better prices, which is to be expected.

Prices for US consumers are low comparatively. Many countries have low or zero production are dependent and have been lax about moving off, no matter a supply shock every few years having thier political leaders run around like headless chickens. My country, Australia, is one of them.

Ethiopia banned the sale of new ICE vehicles a couple years ago for example.