Trump calls surging gas prices a ‘very inexpensive price to pay’ for Iran war
President Trump on Wednesday called surging gas prices a “very inexpensive price to pay” for the U.S. war in Iran, speaking to supporters in North Carolina. His remarks came as fuel costs climbed nationwide and the Strait of Hormuz remained closed.
Trump made the comments at a rally for GOP Senate nominee Michael Whatley in Gastonia.
“It’s a very inexpensive price to pay for what we’ve done. Remember that. It’s a little more. Frankly, even if it was a lot more,” Trump said.
“But that’s going to come tumbling down,” he added, referring to gas prices. “That’s going to be like rocket ships in reverse.”
The national average for regular unleaded gas jumped from $4.31 to $4.43 in the span of four days this week, according to AAA. The national average for diesel jumped 42 cents over the last week.
Analysts raised concern over the price surge, noting uncertainty over the ongoing conflict.
“For the first time since the start of the Iran conflict, we don’t have a baseline view,” Natasha Kaneva, a commodities strategist at JP Morgan, wrote to clients, according to Yahoo Finance.
“We simply don’t know how to model the endgame,” she said.
The Strait of Hormuz, the vital oil shipping lane, remains closed, playing a role in driving up energy prices.
Republicans are grappling with how to overcome Democrats’ affordability message as energy prices continue to rise. A New York Times/Siena University poll released this week found that 62 percent of respondents said they disapproved of the way Trump was handling the economy, while only 36 percent said they approved.
