Donald Trump just made a bold promise about gas prices that every American needs to hear. The president addressed the ongoing Strait of Hormuz negotiations and explained why he believes fuel costs will drop sharply once a deal with Iran is finalized.
Donald Trump says an agreement with Iran could restore Hormuz shipping and push oil prices lower
Donald Trump says an agreement with Iran could restore Hormuz shipping and push oil prices lower. Trump told Fox News on Tuesday that negotiations with Iran had made “a lot of progress,” according to Fox News. He added that a deal to reopen the Strait of Hormuz could come “tomorrow or the next day.” The president also predicted gasoline prices would fall to around $2.50 per gallon if the waterway fully reopens.
Secretary of State Marco Rubio confirmed that discussions with Iran and Oman had advanced significantly. He told reporters there had been progress but “not finality yet.” Treasury Secretary Scott Bessent echoed the optimism, telling CNBC a deal could arrive as soon as Wednesday. He clarified the agreement would ensure “freedom of movement” through the strait.
Trump warned Iran would be “hit very hard” if the strait does not reopen soon. He stated the United States had prepared “the biggest attack since World War II” before Iran requested talks. Trump said Iranian officials called him and asked, “Please don’t do it, let’s talk.”
Brent crude fell almost 5% on Tuesday to under $80 per barrel amid the diplomatic momentum. US West Texas Intermediate prices dropped more than 5% to $76 per barrel. Both contracts reached their lowest levels since July 13. Average US gasoline prices currently sit at $4.08 per gallon, according to AAA.
Iran’s foreign ministry said talks with Oman on a new shipping mechanism had been positive. However, Tehran maintained it was not negotiating directly with the United States. Vice President JD Vance acknowledged the uneven pace of talks. He attributed the inconsistent progress to divisions within Iran’s leadership. Vance said some officials want the conflict to end while “crazy radicals” want it to continue.
Originally reported by Vritti Johar on Mandatory.com.
