- Trump doesn’t have “any concern” about gas prices.
- In an interview, he said “if they rise, they rise.”
- Prices have jumped 26.8 cents in the past week.
The national average price for a gallon of gasoline has soared to $3.251, up from $2.997 on Monday. Look a little further back, and the jump is even more noticeable. Prices have risen 26.8 cents over the past week.
That’s an increase of 9 percent and AAA implied this is the largest increase since the war in Ukraine began in March of 2022. This comes as even more price increases are expected as the war in Iran rages on and refineries will begin switching over to more expensive summer-blend gasoline.
More: Gas Just Jumped 11 Cents Overnight And Drivers Could Be In For More
Unfortunately for consumers, President Trump appears unconcerned. Speaking to Reuters, he said if prices rise, “they rise, but this [the war in Iran] is far more important than having gasoline prices go up a little bit.”
Trump went on to say he doesn’t have “any concern” about gas prices. However, that didn’t stop him from claiming prices will “drop very rapidly when this is over.”
Of course, the administration hasn’t said how long the war will take and has given conflicting statements about its objectives. As a result, any claims that higher gas prices will be temporary should be taken with a grain of salt as there’s no telling what tomorrow will bring. This is especially true considering Iran has threatened ships in the Strait of Hormuz and has launched attacks on oil production in neighboring countries.
Iran has also struck a defiant tone as Foreign Affairs Minister Abbas Araghchi has said the country has “long prepared for this war” and will ensure it “becomes a quagmire for whomever chooses to pursue it.”
Araghchi also suggested negotiating with Trump is pointless because he cannot be trusted. As he put it, “We negotiated twice with this U.S. Administration. Both times, we were attacked in the middle of talks.”
All of this suggests the war is far from over and drivers can expect to pay more at the pump. That’s bad news as prices are now 14.4 cents higher than a year ago, while diesel has soared 51 cents per gallon.
