President Donald Trump indicated on Wednesday that soaring oil and gas prices, fueled by the ongoing conflict with Iran, will not decrease until shortly after the upcoming midterm elections. Speaking to reporters at Joint Base Andrews in Maryland before departing for Texas, the president asserted that energy costs would begin to tumble immediately following the polls.
“Right after the election, oil prices are going to be tumbling downward,” Trump said. The remarks came as global benchmark Brent crude futures traded above $101 per barrel for the first time since July, while U.S. West Texas Intermediate futures exceeded $96 per barrel at session highs.
When asked how he would justify the current price hikes to American consumers, Trump emphasized the strategic necessity of the conflict. “I think it’s very easy to explain to America,” he said. “All you have to do is say, ‘Will you let Iran have a nuclear weapon?’ And the answer is no.”
The war against Iran has now lasted seven months without a clear resolution in sight. While Trump has frequently claimed victory throughout the conflict, he acknowledged on Wednesday that neither the hostilities nor the resulting high energy prices are likely to conclude in the near term. He insisted the war would end “immediately after the election,” adding, “They can’t hold out any longer.”
Trump also suggested that Iranian leaders are attempting to influence the election outcome in favor of candidates he views as weak. “They’re desperate to try and affect the election, so that we can get a nice weak group of people in there, and leave them alone and let them have their nuclear weapon,” he stated.
The comments highlight the political pressure facing the Republican Party as the election cycle remains dominated by inflation and affordability concerns. Although Trump had previously claimed dozens of times during the war that a peace deal with Tehran was imminent, no agreement has materialized. He recently shifted strategy toward military and economic pressure rather than diplomacy.
Additionally, the president predicted that record-high gasoline prices would eventually fall below $2 per gallon, but clarified that this would not happen until after the early November midterms, signaling that relief is at least eight weeks away.
Is it normal to promise cheap energy as a hostage for peace? Seems like a dangerous way to run foreign policy.
Gas under $2 feels like a fantasy right now. I’ll believe it when I see the pump prices actually drop.