Trump Downplays Rising Gas Prices Amid Iran Conflict

President Donald Trump has stated he is not concerned about increasing gasoline prices in the United States, despite the ongoing military operation against Iran. The comments arrive as the White House grapples with the potential economic fallout of the conflict, particularly its impact on energy costs.

“If They Rise, They Rise”

“I don’t have any concern about it,” Trump told Reuters on Thursday. “They’ll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit.” This sentiment marks a shift from previous statements where Trump highlighted falling gas prices in speeches, including his State of the Union address last month.

Economic and Political Implications

Global oil prices have risen 16 percent since the conflict began on Saturday, and the national average price for gasoline has increased by 27 cents to $3.25 per gallon this week, according to AAA . Political analysts suggest sustained high gas prices could negatively impact Republicans in the upcoming midterm elections, where control of Congress is at stake.

White House Response and Concerns

Despite Trump’s public dismissal of concerns, the White House is actively working on measures to combat rising prices. Chief of Staff Susie Wiles reportedly warned that inaction could be “catastrophic” for Republicans in the elections. Energy Secretary Chris Wright and other officials have engaged with oil CEOs to explore potential solutions.

US Policy and Global Oil Markets

The U.S. Has granted India a 30-day exception allowing Indian oil refineries to purchase Russian oil, described by Finance Minister Scott Bessent as a “temporary measure” to counter what he called “Iran’s attempt to take global energy hostage.” Bessent stated the measure is limited to oil already at sea and will not significantly benefit the Russian government.

President Trump has stated the U.S. Navy will escort tankers through the Strait of Hormuz “if necessary,” and expressed confidence that the strait will remain open, claiming Iran’s navy is “at the bottom of the sea.” He has rejected the use of the Strategic Petroleum Reserve.

Consumer Reaction

American consumers are already expressing anger over the rising gas prices, particularly those who voted for Trump based on promises to lower the cost of living and avoid further foreign entanglements. The average gas price in the U.S. Has risen from $2.975 on February 24 to $3.198 on March 4, with predictions of a further 10 to 30 cent increase in the next two weeks.