Donald Trump has once again given his prediction of when oil prices will begin to decline. Speaking with reporters in Washington, D.C., the president reassured that the prices will drop. In his words, the prices are going to drop to “levels that you’ve never seen before.”
Donald Trump drops hint about lower oil prices
Donald Trump made a surprise visit to Lincoln Memorial’s reflecting pool on Thursday, a site which he had previously ordered to be renovated. Speaking with reporters there, the president stated that “gas prices are way down.” He added, “When the war is over, gas will fall down at levels that you’ve never seen before.”
The reassurance comes shortly after Trump’s previous statement about surging gas prices due to the Iran war. In a May 4 press conference, the POTUS reiterated, “I see it going down very substantially when this is over, I think very rapidly too, at levels that you’ve never seen because there’s a lot of energy out there, ships all over the world that are loaded up with it.”
Before that, on May 1, Trump said that gas prices would “come crashing down as soon as this war is over.” Amid the multiple reassurances, gas prices have seen a steady surge in the last several months amid the ongoing conflict and the naval blockade on the Strait of Hormuz that disrupts global oil supply.
According to the American Automobile Association (AAA), the national average cost of gas in the U.S.reached around $4.56 a gallon on Thursday. On May 4, it was $4.48, and $4.18 the previous week.
California Senator Adam Schiff reacted to the rising prices in an X post on May 8. “So gas prices are up 52 percent since the Iran war began. Oil is trading about at $100 right now. The president says, well, he’s just fine if it goes up to $200,” the Democrat stated in the video message. “Just think about that when you’re trying to fill up the tank,” he added.
Originally reported by Namrata Ghosh on Mandatory.
