Miranda Jeyaretnam
President Donald Trump says surging gasoline prices are a “very small price to pay” as the Iran war roils global energy markets, sending crude oil prices surging above $100 a barrel for the first time since Russia’s 2022 invasion of Ukraine.
The conflict has severely disrupted oil flows through the Strait of Hormuz, a key global trade route, increasing prices at the U.S. gas pump and threatening to undercut Trump’s economic agenda ahead of the November midterms.
The President on Sunday dismissed concerns over rising crude prices as a temporary blip.
“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace,” President Donald Trump posted on Truth Social on Sunday evening. “ONLY FOOLS WOULD THINK DIFFERENTLY!”
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