Trump on rising gas prices during Iran war: 'If they rise, they rise' — report
President Donald Trump states he has 'no concern' about rising US gas prices driven by the widening Iran conflict, prioritising the military operation over costs at the pump.
US President Donald Trump has said he was not concerned about rising US gas prices driven by the widening Iran conflict, telling Reuters in an exclusive interview that the US military operation was his priority.
"I don't have any concern about it," he said, when asked about the higher prices at the pump.
"They'll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit."
The comments mark a shift in tone for the president, who touted a drop in gas prices in his State of the Union address last month.
Global oil prices have jumped 16% since the war started on Saturday, as the spreading conflict disrupted Middle East supplies.
The national average cost of gas has risen 27 cents since last week to $3.25 per gallon, according to American Automobile Association [AAA].
Trump has said the costs "haven't risen very much."
In the interview, he said he was not looking to tap the Strategic Petroleum Reserve, the largest emergency crude stockpile in the world.
He added that he was confident the Strait of Hormuz will remain open because Iran's navy is at the "bottom of the sea."
Energy sector Concerns
The White House is betting the conflict with Iran - and the resulting pain at the gas pump - will prove short-lived.
Trump has outlined a four-to-five-week timeline for the military campaign, but military experts have questioned it.
White House energy advisers have urged patience, warning that any intervention that fails to quickly bring down prices could rattle markets.
Secretary of State Marco Rubio said early this week that the administration was rolling out a package of measures, but energy executives told Reuters the White House has few great options.
"When you look across the menu of policy options... they don't move the needle far," one executive said.
Officials are discussing other options, including a federal gasoline tax holiday and loosening environmental regulations.