President Donald Trump stated in an exclusive interview that he is not concerned about rising U.S. gas prices, which have been driven higher by the widening conflict with Iran. Trump emphasized that the ongoing U.S. military operation is his priority, saying, '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 marks a shift from his previous messaging, where he touted falling gas prices in his State of the Union address and at a Texas rally just hours before the U.S. launched air strikes on Saturday [1].
Since the start of the conflict, global oil prices have surged 16%, disrupting Middle East supplies. The national average cost of gas in the U.S. has increased by 27 cents since last week, reaching $3.25 per gallon, which is 15 cents higher than a year ago, according to AAA. Despite these figures, Trump downplayed the impact, stating the costs 'haven't risen very much' [1].
Political analysts warn that a persistent rise in gas prices could negatively affect Republicans in the upcoming November midterm elections, especially as voters express dissatisfaction with the high cost of living and Trump's economic management. Behind the scenes, White House officials, including Chief of Staff Susie Wiles and Energy Secretary Chris Wright, have been in discussions with oil CEOs to explore options for combating rising energy prices. Press secretary Karoline Leavitt confirmed these engagements, and another White House official described a scramble across energy and national security teams to develop measures to lower gas prices. Wiles reportedly cautioned in meetings that failing to address price increases could be 'catastrophic' for Republicans in the elections [1].
Trump has outlined a four-to-five-week timeline for the military campaign against Iran, but this has been questioned by political and military experts, who note the lack of a clear end goal as the conflict continues to spread regionally and beyond. Trump also stated he is not considering tapping the Strategic Petroleum Reserve and expressed confidence that the Strait of Hormuz will remain open, claiming Iran's navy is at the 'bottom of the sea.' The White House is betting that the conflict—and the associated pain at the gas pump—will be short-lived [1].
CONCLUSION
The widening conflict with Iran has led to a significant rise in global oil prices and U.S. gas prices, with political and market implications. While President Trump publicly downplays the impact, White House officials are actively seeking solutions to mitigate rising energy costs, given concerns about potential electoral consequences. The market remains highly sensitive to developments in the conflict and energy policy.