US President Donald Trump has dismissed concerns over rising petrol prices as the war with Iran pushes crude oil above $100 per barrel, claiming higher prices benefit the United States. In a post on Truth Social, Trump wrote: 'The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money.'
The American Automobile Association reported that the average price for a gallon of gas reached $3.60, a week after the US-Israel military operation against Iran began. This marks the largest price spike since the start of Russia's invasion of Ukraine in 2022. Iran has launched attacks on oil facilities across the Middle East, despite the release of global petroleum reserves intended to stabilise markets.
Trump justified the conflict by stating his priority is preventing Iran from obtaining nuclear weapons, adding: 'I won’t ever let that happen!' However, the rise in petrol prices poses a political risk for Trump as primaries begin ahead of the November midterm elections, where his Republican allies are defending slim majorities in Congress.
Democrats have seized on the issue, criticising Trump for failing to keep his campaign promise of lowering prices. Congressman Don Beyer of Virginia responded: 'President Trump should end this stupid war now and bring down gas prices for the American people. Fortunately for his big oil donors though, Trump doesn’t mind your pain at the pump since they are going to “make a lot of money”.'
