US Politics
Trump shrugs off rising gas prices to reporters – ‘If they rise, they rise’
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President Donald Trump stated on Thursday that he was unconcerned by rising U.S. gas prices, which have been driven by the escalating conflict with Iran.
In an exclusive interview with Reuters, Trump emphasized that the ongoing U.S. military operation remained his primary focus.
“I don’t have any concern about it,” he said when questioned about the higher costs at the pump. “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.”
These remarks signal a notable shift in the president’s rhetoric. Just last month, he highlighted a drop in gas prices during his State of the Union address and at a Texas energy rally, mere hours before the U.S. initiated air strikes on Saturday. Political analysts suggest that a sustained increase in gas prices could negatively impact Republicans in the upcoming November midterm elections, where control of the U.S. Congress is at stake. Voters are already expressing dissatisfaction with the high cost of living and Trump’s economic stewardship.
White House Chief of Staff Susie Wiles and Energy Secretary Chris Wright have engaged with oil CEOs to explore potential strategies for combating rising energy prices, White House press secretary Karoline Leavitt confirmed on Thursday.
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Trump has outlined a four-to-five-week timeline for the military campaign against Iran, a projection that political and military experts have questioned. They note that the U.S. government has yet to articulate a clear end goal as the conflict continues to spread across the region and beyond. In the interview, Trump affirmed he was not considering tapping the Strategic Petroleum Reserve, the world’s largest emergency crude stockpile. He expressed confidence that the Strait of Hormuz, a critical channel for oil shipping near Iran, would remain open, asserting that Iran’s navy is at the “bottom of the sea.”
Global oil prices have surged by 16 percent since the war began on Saturday, as the widening conflict has disrupted Middle East supplies. According to AAA, a U.S. travel organization tracking fuel prices, the national average cost of gas has climbed 27 cents since last week, reaching $3.25 per gallon.
This current national average is 15 cents higher than it was a year ago. Despite these figures, Trump maintained that the costs “haven’t risen very much.”
The White House is banking on the conflict with Iran – and the resulting pain at the gas pump – proving to be short-lived. White House energy advisers have reportedly informed Trump’s aides that the initial shock in fuel markets has been less severe than anticipated, urging patience, according to two anonymous sources familiar with internal deliberations.
These advisers cautioned that any intervention by the Trump administration that fails to quickly reduce prices could destabilize markets and prove counterproductive.
Secretary of State Marco Rubio stated earlier this week that the administration was preparing a package of measures to address rising energy prices. However, the only plan unveiled so far includes U.S.-backed risk insurance for oil tankers and the promise of potential naval escorts through the Strait of Hormuz.
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Three energy executives told Reuters that the White House has limited effective options to drive down energy prices. “When you look across the menu of policy options, domestically or within other countries, they can be helpful, but they don’t move the needle far,” one executive said anonymously, adding, “I think the primary focus is … to do whatever they can to restore transits through the Strait of Hormuz itself.”
Officials are also discussing a range of other options, including a federal gasoline tax holiday and easing environmental regulations concerning summer gasoline to permit higher blends of ethanol, according to the two sources. While a potential release from the Strategic Petroleum Reserve was also being weighed, the president explicitly ruled out that option – at least for now – in his comments to Reuters.
Congressional Republican leaders, such as House Speaker Mike Johnson, have similarly dismissed concerns about rising gas prices, even as the party plans to center its midterm election strategy on economic successes.
