US President Donald Trump stated that he is not concerned about the increase in fuel prices in the US, caused by the escalation of the conflict with Iran, emphasizing that his priority remains the military operation.
In an exclusive interview with Reuters, Trump said he was not concerned about rising gas prices. “I have no concerns about that,” he said when asked about rising gas prices. “They’re going to come down very quickly once this is over. And if they go up, let them go up, because that’s much more important than a little bit of a gas price increase.”
His comments mark a change in tone from last month, when he highlighted falling gas prices during his State of the Union address. Political analysts warn that continued price increases could hurt Republicans in the November midterm elections, when control of the US Congress will be up for grabs.
Trump has stated that the military campaign against Iran could last four to five weeks, but political and military experts have questioned this timeframe, emphasizing that the US administration has not yet clearly defined the ultimate objective of the operation, while the conflict is spreading in the region.
In the interview, Trump also said he does not plan to use the US Strategic Petroleum Reserve, the world's largest emergency oil reserve. He expressed confidence that the Strait of Hormuz, a key oil shipping route near Iran, would remain open, claiming that the Iranian navy is already "at the bottom of the sea."
Global oil prices have risen about 16% since the war began on Saturday. In the United States, the average price of gasoline has risen 27 cents over the past week, reaching $3.25 a gallon, according to AAA data.
However, the White House believes the impact on the fuel market will be temporary. The administration's energy advisers have assessed that the initial price shock has been smaller than expected and have advised patience, warning that hasty interventions could destabilize markets and have the opposite effect.
