Trump Says Fuel Prices May Stay High Until After Elections
US President Donald Trump said on Sunday that oil and gasoline prices could remain high until after November’s congressional elections, acknowledging potential political consequences of the Iran conflict, according to Reuters.
In a Fox News interview, he indicated that gasoline prices could stay the same or be slightly higher, but would likely remain at roughly similar levels.
The average price of regular gasoline at US pumps exceeded $4 a gallon for most of April, roughly one-third higher than before the Iran war, according to GasBuddy data. Trump’s comments came after weeks of claims that the increase would be temporary.
Trump also wrote on Truth Social that the US Navy would begin blocking vessels linked to Iranian transit payments in the Strait of Hormuz. "I have also instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran. No one who pays an illegal toll will have safe passage on the high seas."
He added that the United States would begin destroying mines allegedly laid by Iran and warned that any Iranian forces firing at US or commercial vessels would face retaliation.