Saed News: U.S. President Donald Trump and U.S. Treasury Secretary Scott Bessent promised lower oil and gasoline prices following the end of the war against Iran.
According to SAEDNEWS, citing IRNA, Trump claimed during his cabinet meeting on Wednesday that gasoline prices “will come way down,” perhaps to $2.
According to data from the American Automobile Association, the current national average price for a gallon of regular gasoline is $4.46.
Speaking to reporters during the monthly cabinet meeting about gasoline prices, the U.S. president said: “It will come way down — it will get back to where it was before.”
Following the U.S. and Israeli regime aggression against Iran, Americans are still facing higher gasoline prices, with some paying around $4.45 per gallon. However, Trump claimed that prices in some areas had previously fallen below $2 and promised they would return to that level “shortly after this whole thing is over.”
Trump claimed: “We had gasoline prices down to a very low level. I think we’ll get back to that number again.”
He also downplayed the economic pressure on the United States caused by disruptions in the Strait of Hormuz as a result of his war against Iran, saying the United States has “a lot of oil” and would keep energy available while this important shipping route remains affected.
Trump claimed: “This is really the world’s problem, because most countries in the world don’t have that,” adding that ships are heading toward Texas, Louisiana, and Alaska to load cargo.
He also claimed: “In addition, there are about 1,400 to 1,500 ships in the strait that want to get out, and they will be allowed to leave at the appropriate time.”
At the same time, U.S. Treasury Secretary Scott Bessent also claimed during the cabinet meeting that oil prices would fall below pre-war levels after the end of the aggression against Iran.
The Treasury Secretary said on Wednesday local time during the cabinet meeting: “Oil prices after this conflict is over will be lower than they were before the war started.”
Referring to inflation, Bessent used terminology similar to that used during the Biden administration, describing price increases as “temporary and transitory.”
The U.S. Treasury Secretary claimed: “As for prices, I think these prices are temporary. Oil after this conflict is over will be lower than it was before the war.”
He was essentially repeating the Trump administration’s position that energy prices would decline significantly after the end of the Iran war. However, his remarks carried a degree of contradiction.
The use of words such as “temporary” and “transitory” regarding inflation by former Federal Reserve Chairman Jerome Powell and former Democratic U.S. President Joe Biden later came under criticism in the United States because inflation remained high for a long period after the COVID-19 pandemic and declined more slowly than the public had expected.
This issue later became one of the central points of criticism by Republicans and helped Trump return to the White House.
