Donald Trump’s war in Iran will result in gas and diesel prices rising even further during the crucial run-up to the midterms, experts have warned.
The closure of the Strait of Hormuz shipping route has already sent diesel prices in the U.S. soaring past $6 a gallon for the first time ever.
The national average price of gas currently stands at $4.44 a gallon, below the all-time high of $5.02 but well above the $2.98 recorded before the Middle East conflict began and the $3.20 average from a year ago. Last month, the national average was just over $4.
However, several factors, such as a key Saudi Arabian pipeline being severely damaged by Iran-supported militias in Iraq and Iran-backed Houthi rebels threatening to seize control of the Bab al-Mandab Strait, threaten to exacerbate the global oil crisis even further.
Any further price rises will only add more pressure on Trump. The president is already facing intense voter backlash because his deeply unpopular Iran war has caused gas prices to soar, potentially resulting in a GOP electoral wipeout in November.
Patrick De Haan, head of petroleum analysis at the price-tracking platform GasBuddy, warned people to “buckle up” on Wednesday morning ahead of expected price rises.
“Gas and diesel look set for a spike over the next 48 hours, hardest in parts of the nation’s interior,” Haan posted on X.
Tom Kloza, chief energy adviser for Gulf Oil, added that there will soon be “staggering” increases in gas and diesel prices.
“Fuel margins have yet to catch up with previous wholesale hikes,” he posted. “Watch for huge increases in Great Lakes and Rocky Mountain states in particular.”
During a campaign rally in North Carolina on Wednesday, the billionaire president dismissed concerns about rising gas and diesel prices among tens of millions of voters while insisting the war in Iran is worth it.
“I have to say, you have a little higher [gas]. It’s a very inexpensive price to pay for what we’ve done,” Trump told the crowd, prompting only a tiny smattering of applause.
“Even if it was, frankly, even if it was a lot more. But that’s going to come tumbling down. That’s going to be like a rocket ship in reverse.”
On Wednesday, a Marquette Law School survey suggested that Americans do not agree with the sentiment that high gas prices are worth the near-seven-month war with Iran, which has no end in sight.
Just 20 percent of U.S. adults surveyed approved of Trump’s handling of gas prices, with the president also recording dire numbers on the Iran war (26 percent) and inflation (19 percent).
More than half (55 percent) also said gas prices had gone up “a lot” for them in the past six months.
The Daily Beast has contacted the White House for comment.
