US President Donald Trump said fuel prices are “not very high, relatively speaking,” even though the ongoing Iran war has pushed energy prices higher. Trump made the remarks while talking about inflation and fuel costs earlier this week. His comments came as many Americans are becoming unhappy with how his administration is handling the Iran conflict.
According to AAA, the average price of regular gasoline in the US was $4.15 per gallon on June 10. AAA data showed gas prices were $4.26 per gallon a week earlier. AAA data also showed prices were $4.52 per gallon a month earlier.
Gas prices rise
Despite the recent drop, gas prices remain much higher than last year, when the average was $3.12 per gallon. The war has affected oil markets because blockades in the Strait of Hormuz have limited global oil supplies. Since the conflict started, regular gasoline prices have risen by nearly 40%.
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A new Reuters/Ipsos poll found that 60% of Americans disapprove of US military strikes against Iran. The same poll showed that many Americans believe gas prices will continue rising because of the war.
Trump asked Americans to be patient and said higher prices would not last much longer. However, many Americans are not convinced that prices will fall soon, according to recent polling. Many Americans remain concerned about how the conflict could affect fuel costs.
In the Reuters/Ipsos survey of 4,531 Americans, nearly six in 10 respondents said they expect gas prices to rise further over the next year because of the Iran conflict. The findings highlight the gap between Trump’s assessment of fuel costs and concerns among many consumers.
Trump defends prices
Fuel prices have eased somewhat since the beginning of last month. One reason is growing hope that tensions in the Middle East could cool down. Reports that some oil tankers are successfully leaving the Gulf have also helped reduce fears about supply shortages, as noted in the report by USA Today. After attending Game 3 of the NBA Finals, Trump again defended his view on fuel prices.
Trump said, “A lot of oil is coming out of the Hormuz Strait.” He added that oil supplies are moving and fuel prices are “not very high, relatively speaking.” Trump also claimed fuel prices are lower now than they were during former President Joe Biden’s administration, as cited in the report by USA Today.
