‘We make a lot of money’: Trump downplays rise in gas prices during Iran war | Donald Trump
Donald Trump on Thursday shrugged off the economic damage the war in Iran has brought to gas prices across the United States, writing on social media that “we make a lot of money when oil prices go up.”
The president’s comment came after the American Automobile Association reported that the average price of a gallon of gasoline reached $3.60, a week after the start of the U.S.-Israeli military operation against Iran led to the biggest price increase since the early days of Russia’s invasion of Ukraine in 2022.
Costs at the pump have risen in line with the price of crude oil, which rose above $100 a barrel on Thursday as Iran launched an attack on oil facilities in the Middle East despite the release of global oil reserves to stabilize markets.
“The USA is by far the largest Oil Producer in the world, so we make a lot of money when oil prices go up,” the President wrote on Truth Social.
“BUT, of far greater interest and importance to me as President is to prevent an evil Empire, Iran, from acquiring Nuclear Weapons and destroying the Middle East and indeed the Earth. I will never let that happen!”
Although the United States is the world’s largest producer of crude oil, prices are influenced by global markets and supply chains, and some products come from refineries abroad.
The rise in gas prices poses a political liability for Trump as primaries begin ahead of the November midterm elections, in which his Republican allies will defend their slim majorities in the Senate and House of Representatives.
Democrats have placed cost-of-living concerns at the center of their pitches to voters, routinely chiding Trump for waging hostility against Iran and arguing that he has failed to deliver on his campaign promise to lower prices.
“President Trump must end this stupid war now and lower gas prices for the American people,” Democratic congressman Don Beyer of Virginia said in response to Trump’s post.
“Fortunately for big oil donors, Trump doesn’t care about your pain at the pump because they’ll ‘make a lot of money.'”
