MIAMI — On Sunday, U.S. President Donald Trump suggested that oil and gasoline prices might stay elevated until the midterm elections in November. This remark marks a rare recognition of the potential political consequences stemming from his recent military actions against Iran.
During an appearance on Fox News’ “Sunday Morning Futures with Maria Bartiromo,” he was questioned about whether gas prices would decline by the fall. Trump, visiting Miami for the weekend, commented, “It should be about the same, maybe a little higher, but about the same.”
Currently, the average price of regular gasoline across U.S. stations has exceeded $4 a gallon for most of April, according to GasBuddy. Just a couple of months earlier, in February, the average was nearly $3 a gallon, never surpassing $3.25 in the previous year.
His remarks came after senior advisors acknowledged the economic repercussions of the ongoing conflict but insisted for weeks that the increasing prices were a temporary issue.
Following lengthy discussions between the U.S. and Iran in Pakistan that failed to yield a peace agreement, Trump took to social media early Sunday to announce that the U.S. Navy would establish a closure of the Strait of Hormuz and intercept ships that attempted unauthorized passage to Iran.
“No one who pays illegal tolls will be able to safely navigate the high seas,” he stated on the Truth social media platform.
Shortly after, U.S. Central Command clarified that the blockade would only apply to ships entering or leaving Iranian ports, ensuring that vessels headed to non-Iranian ports would not be stopped by American forces.
This blockade could add more uncertainty to the ongoing conflict, which is currently under a fragile two-week ceasefire. This response comes as Iran has triggered a self-imposed closure of critical shipping channels, prompting a surge in global oil prices by about 50%.
In a post on social media late Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf, who headed the Iranian delegation in talks, warned that the blockade would lead to higher gas prices in the U.S. He wrote, “Enjoy the current numbers at the pump,” along with a map depicting gas prices in Washington. “The so-called ‘lockdown’ will soon make you nostalgic for $4 to $5 gas.”
The war, which began on February 28 with a joint bombing campaign by the U.S. and Israel against Iran, escalated quickly. Iran and its allies have attacked neighboring nations while Israel has launched significant strikes against Hezbollah in Lebanon.
This conflict has devastated global financial markets and resulted in substantial civilian casualties, particularly in Iran and Lebanon.
Domestically, Trump’s approval ratings have dipped significantly, reflecting widespread public dissatisfaction with rising gas prices due to the war. Polls reveal that the conflict is unpopular among many Americans, raising concerns among Republicans about potential losses in Congress during the midterm elections. A Democratic majority could mean investigations into the Trump administration and hinder many of its legislative efforts.
Senator Mark Warner from Virginia, the top Democrat on the Senate Intelligence Committee, challenged the rationale behind Trump’s proposed blockade. He remarked, “I don’t understand how a strait blockade would force Iran to open the strait,” during an interview on CNN’s “State of the Union.”
Warner further explained on CBS’s “Face the Nation” that this blockade wouldn’t likely alter Iran’s control over the waterway. He pointed out, “Iran has hundreds of high-speed boats that can dig mines in the strait and plant bombs on tankers blocking the strait. So how will gas prices come down?”
While Trump has frequently claimed that the war will conclude soon, Republican Senator Ron Johnson of Wisconsin commented on ABC News’ “This Week” that achieving U.S. goals in Iran “could take a long time.” Although he opted not to address the proposed blockade, he mentioned, “It’s going to be a long-term project. I never thought this would be easy.”
