Trump Talks Gas Prices Amid Iran Tensions

During an appearance on “Sunday Morning Futures,” host Maria Bartiromo expressed surprise when President Donald Trump suggested that gas prices might increase. This statement came after Trump announced a naval blockade of the Strait of Hormuz, shortly following comments from Vice President J.D. Vance that diplomatic efforts with Iran in Pakistan had reached an impasse.

Bartiromo questioned Trump about potential decreases in oil and gas prices. He responded, “Well, it’s going to go down eventually. It might not be immediate, but it’s going to come down when this is all over.” He pointed out how the stock market, which was expected to hit record levels in the years following his presidency, performed well during his first year. “The S&P hit $7,000 my first year, and I thought, ‘You know what? Let’s go then.’”

Continuing, Trump emphasized the importance of preventing Iran from acquiring nuclear weapons, stating, “Do you want to see the stock market go down? Let’s drop a couple nuclear bombs on us or elsewhere.” He noted that, despite concerns, the stock market hasn’t dropped as much as he anticipated and that gas prices haven’t surged significantly either.

Since the onset of Operation Epic Fury, oil prices have climbed, with WTI oil futures reaching $96.57 on Friday, a notable increase from $67.02 just before the conflict started. This information comes from Investing.com.

Bartiromo later inquired whether Trump believed gas prices would decrease before the upcoming midterm elections. He responded, “I hope so. I think so; it’s possible. It should be about the same, maybe a bit higher.” His demeanor reflected some uncertainty, as Bartiromo conveyed surprise at his remarks.

Trump continued, “I don’t think this will take very long. They’ve been wiped out, and it’s not a fair shock.” He criticized the media, stating, “This country needs a free and fair press. I don’t understand why they exaggerate how great they are militarily when they’re really in a weakened state.”

On Thursday, Iran announced it would permit 12 ships daily to transit, charging tolls in Chinese yuan or virtual currency, while also claiming to have laid mines in the region. However, they admitted uncertainty about their exact locations. In response, Trump mentioned that U.S. Navy vessels would be tasked with clearing those Iranian mines.