President links high fuel costs to ongoing war disruptions while global benchmarks stay above $100 per barrel and U.S. prices hit multi-year highs.
By yourNEWS Media Newsroom
President Donald Trump said April 30 that gasoline prices will decline rapidly once the ongoing conflict with Iran concludes, as Americans continue to face the highest fuel costs in several years.
Speaking during a press event in the Oval Office, Trump attributed rising prices to disruptions in global oil supply caused by the conflict and restrictions on key shipping routes. He expressed confidence that prices would fall quickly once normal crude transport resumes.
“The gas will go down. As soon as the war’s over, it’ll drop like a rock,” Trump said. “There’s so much of it, it’s all over the place, sitting all over the oceans of the world.”
He acknowledged that consumers may continue to see elevated prices in the near term but reiterated that costs would “go down rapidly” after hostilities end.
Trump also warned of broader consequences if Iran were to develop and deploy a nuclear weapon, stating that such a scenario would significantly alter global conditions. He has continued to call for Tehran to abandon its nuclear program, including relinquishing highly enriched uranium stockpiles, a demand Iranian leadership has not accepted.
Fuel prices have climbed sharply alongside rising crude oil costs. Data released April 30 by the American Automobile Association showed the national average for regular gasoline reached $4.30 per gallon, increasing 27 cents in one week and more than $1 compared to the same period last year. The organization reported that prices are now at their highest level since July 2022.
Separate tracking by GasBuddy indicated even higher real-time averages. Analyst Patrick De Haan reported April 30 that prices were averaging $4.40 per gallon nationwide, reflecting a weekly increase of 35 cents.
“We’ll continue to head higher for now,” De Haan said, describing the pace of recent increases as among the fastest in years.
Oil markets remain under pressure as geopolitical tensions persist. Brent crude traded near $111 per barrel on May 1, while U.S. West Texas Intermediate exceeded $105, both showing strong weekly gains after earlier spikes.
The increases follow U.S. and Israeli strikes on Iran in late February, which were followed by retaliatory measures from Tehran, including disruptions affecting shipping lanes and restrictions in the Strait of Hormuz. The waterway is a critical global transit route, handling a significant share of the world’s oil and liquefied natural gas flows.
The rise in fuel prices has contributed to broader economic pressures. U.S. gasoline prices averaged approximately $2.98 per gallon prior to the escalation, while diesel prices have since climbed above $5.40 per gallon. Higher energy costs have also influenced inflation, with the personal consumption expenditures index rising 3.5 percent year-over-year in March.
International organizations have cautioned that disruptions may persist even after the conflict ends. The International Monetary Fund noted that damage to transportation infrastructure and shipping networks could have lasting effects, while the World Bank projected broader increases in energy and commodity prices tied to the conflict.
“The war in the Middle East has severely disrupted maritime and air traffic, damaging infrastructure and interrupting transport corridors that are critical for global energy and goods,” the IMF said. “Even in the best case, there will be no neat and clean return to the way things were.”
The administration has continued to enforce a naval blockade targeting Iranian oil exports as part of efforts to pressure Tehran, with officials indicating that reopening key transit routes remains central to stabilizing global energy markets.
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