Donald Trump’s inner circle is privately panicking that the oil crisis stemming from the president’s war in Iran could be a catastrophe for Republicans in the midterms, according to a report.
The president’s aides are becoming increasingly worried that the GOP will suffer major losses in November’s elections unless the war ends soon and oil, gas, and jet fuel prices fall sharply, The Wall Street Journal reported.
The global oil crisis resulting from Iran’s closure of the Strait of Hormuz—which has sent gas prices soaring in the U.S. and around the world—could become even more painful for Americans in the coming months, as airlines fear high jet-fuel prices could force ticket hikes or even mass cancellations during the busy summer travel season.
Former New Hampshire Gov. Chris Sununu, a Republican who is now president and CEO of industry group Airlines for America, said he has met with numerous Trump administration officials, including Treasury Secretary Scott Bessent, to warn them about the looming political disaster for the GOP.
“They get it … and I think that’s why they’re trying to get through the war as fast as they can,” Sununu told the Journal.
However, Sununu also warned that even if the war in Iran ends soon and the Strait of Hormuz reopens, it could still take several months for oil and gas prices to return to pre-war levels.
“You’re looking at elevated ticket prices through the summer and fall because it takes a while for the prices to go down,” Sununu told the Journal.
In the weeks after the war broke out, the price of a U.S. domestic round-trip economy ticket rose 21 percent to $570, compared to March 2025, according to Airlines Reporting Corp.
The war was also the nail in the coffin for Spirit Airlines. The budget carrier had been hoping to secure a rescue deal after filing for a second bankruptcy, but the sharp rise in jet fuel costs amid the conflict pushed it over the edge.
The GOP is already widely predicted to suffer heavy losses in November’s midterms, in part because of backlash to Trump’s second term.
The deeply unpopular war in Iran and rising fuel costs have only exacerbated voter frustration for tens of millions of Americans already struggling through a cost-of-living crisis.
Trump has repeatedly suggested that the war in Iran, which has dragged on for more than two months, could end any day now. On Tuesday, Axios reported that the White House had put forward a one-page, 14-point memorandum of understanding to Tehran in an attempt to negotiate an end to the conflict.
However, Ebrahim Rezaei, spokesperson for Iran’s foreign policy and national security committee, said the reported memo was “more of an American wish list than a reality.”
Trump’s attempt to ease the Strait of Hormuz crisis by launching an operation to guide ships through the narrow passageway was paused just one day after it was put in place.
In a statement to the Journal, White House spokeswoman Taylor Rogers insisted that the president and his energy team “anticipated these short-term disruptions to the global energy markets from Operation Epic Fury and had a plan prepared to mitigate these disruptions.”
Rogers added that the administration is working with airline industry representatives to “address their concerns, explore potential actions, and inform the president’s policy decisions.”
The Daily Beast has contacted the White House for further comment.
