Donald Trump just told Americans exactly when gas prices will finally drop. The president made a bold prediction about energy costs while addressing the ongoing Iran conflict and its impact on the midterm elections.
Donald Trump gives update on oil price changes
President Donald Trump told reporters at Joint Base Andrews that energy prices will remain elevated until after the November midterm elections, CNBC reported. “Right after the election, oil prices are going to be tumbling downward,” Trump said before departing for the Republican midterm convention in Texas. He also claimed the seven-month war against Iran will end “immediately after the election.”
Global oil prices surged on Wednesday amid escalating hostilities between Washington and Tehran. Brent crude futures traded above $101 per barrel for the first time since July. U.S. West Texas Intermediate futures also surpassed $96 per barrel at session highs.
Trump defended the elevated costs by framing the conflict as necessary. “All you have to do is say, ‘Will you let Iran have a nuclear weapon?’ And the answer is no,” he stated. He then accused Tehran of trying to influence the upcoming elections.
“They’re desperate to try and affect the election,” Trump said. He claimed Iran wants “a nice weak group of people” in power to pursue its nuclear ambitions freely. Meanwhile, the U.S. military confirmed its forces destroyed 10 Iranian tankers in the past week.
“I would say that the attacks are caused by us,” Trump added. He promised Americans would “see a lot more” military action against Iran going forward. Trump also predicted gas prices would eventually fall below $2 per gallon.
However, he acknowledged that timeline extends beyond the midterms. “I think it’s going to take a little bit longer than the midterm,” he said. Fuel analyst Patrick De Haan of GasBuddy pushed back on Trump’s prediction. “I don’t see any guarantees at all of that happening,” De Haan said on X.
