As diesel prices in the U.S. reach record highs, President Donald Trump asserted that oil prices would quickly decline if the U.S. wins a war with Iran. This statement comes as rising fuel costs have negatively impacted public opinion of Trump and the Republican Party ahead of the November midterm elections.
On September 7, Trump stated on the social media platform Truth Social, "If we win the war with Iran, oil prices will drop dramatically, just like everything else is falling (but oil will fall much more!)" He added, "It will go down to $3 a gallon, and ultimately below $2 a gallon. All of this will happen quickly."
Trump's comments come amid heightened tensions between the U.S. and Iran over the Strait of Hormuz, which have contributed to surging international and domestic oil prices. As of September 8 at 9:11 a.m. KST, Brent crude futures for November were up 0.07% at $97.07, nearing the $100 mark, while West Texas Intermediate (WTI) crude for October rose 1.10% to $92.49.
According to the American Automobile Association (AAA), the average price of diesel in the U.S. reached $5.85 per gallon as of September 4, a 60% increase from $3.71 during the same period last year, marking an all-time high. In California, prices soared to $7.70 per gallon.
With less than two months until the midterm elections on November 3, rising oil prices pose a significant challenge for Trump. A recent poll by the Financial Times and Focaldata, released on September 5, showed Trump's approval rating at a record low of 33%, indicating a sharp decline in public sentiment.
Meanwhile, the Trump administration continues to advocate for a strong response to Iran, urging countries like South Korea to deploy forces to the Strait of Hormuz, as tensions in the Middle East persist. On the same day, Trump reiterated on Truth Social, "Iran will never have nuclear weapons," reaffirming his commitment to dismantling Iran's nuclear program.
* This article has been translated by AI.
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