President Donald Trump said gasoline prices are moving lower after West Texas Intermediate crude fell to about $69 per barrel following easing concerns over Iran and the Strait of Hormuz.
By yourNEWS Media Newsroom
President Donald Trump said Monday that gasoline prices are falling quickly as crude oil prices retreat from levels reached during the recent U.S.-Iran conflict.
Trump posted the comments on Truth Social while pointing to lower retail fuel costs and a decline in West Texas Intermediate crude oil, arguing that the market response supports his administration’s approach to energy policy and Middle East stability.
“GAS PRICES COMING DOWN, FAST!” Trump wrote Monday morning. “REPORT ANY ABUSES AT RETAIL LEVEL!!!”
In a second post, Trump cited the benchmark U.S. crude price.
“WTI CRUDE – $69, and heading down,” Trump wrote. “This is less than it was prior to the start of the Denuclearization of Iran!”
The president has said U.S. military action against Iran’s nuclear program, followed by diplomatic efforts to stabilize the region, would ease pressure on global energy markets rather than trigger a lasting price spike.
Crude prices rose during the conflict as traders feared that fighting could disrupt shipping through the Strait of Hormuz, one of the world’s most important energy corridors. Roughly one-fifth of the world’s seaborne oil normally passes through the narrow waterway.
Analysts had warned that any extended closure or major disruption in the strait could send oil prices sharply higher.
Instead, prices have moved lower as concerns about a sustained supply interruption have eased. Commercial shipping has continued through the region, reducing immediate fears of shortages.
WTI crude traded near $69 per barrel Monday after climbing above $75 during the peak of the conflict.
Gasoline prices have also started to decline, following the drop in crude oil. Crude is the largest component of retail gasoline costs, though changes in wholesale prices often take several days to fully appear at local gas stations.
Regional prices may also vary because of taxes, transportation expenses, refinery conditions and local competition.
Trump urged consumers to report retailers that do not pass along lower fuel costs, signaling concern that some stations may delay reducing prices even as oil costs fall.
The president has repeatedly said affordable energy is central to lowering inflation and reducing costs for households and businesses. His administration has promoted expanded domestic energy production while also seeking to maintain stability in global oil markets.
Energy analysts say fuel prices remain vulnerable to seasonal driving demand, refinery operations and geopolitical events. Still, easing tensions involving Iran and the continued flow of oil through the Strait of Hormuz have lowered near-term concerns about supply disruptions.
Trump has argued that a stronger U.S. energy sector, combined with greater stability in the Middle East, will continue pushing fuel prices downward during the summer driving season.
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