President Donald Trump said that oil and gasoline prices could remain high through the November midterm elections. This comment acknowledged the political risks tied to the war with Iran and the resulting energy crisis.
“It could be, or the same, or maybe a little bit higher, but it should be around the same,” Trump said on Fox News’ “Sunday Morning Futures With Maria Bartiromo” when asked if oil and gas prices would be lower by fall. Reuters reported that Trump made this remark as average U.S. gas prices stayed above $4 per gallon for most of April, rising from just under $3 per gallon in February.
This statement marked a change in tone after weeks during which Trump called the rise in fuel prices temporary. His advisers have recognized the war’s economic impact, even as the White House continued to assert that the conflict would be short-lived and contained.
Trump’s comments came the same day he announced that the U.S. Navy would start blockading traffic connected to Iran in the Strait of Hormuz after weekend talks in Islamabad failed to reach a peace agreement.
🚨 Q: Do you believe the price of oil and gas will be lower before the midterm elections?
PRESIDENT TRUMP: “I mean, I think so. It could be. It could be or the same or maybe a little bit higher, but it should be around the same. I think this won’t be that much longer.”
“They’re… pic.twitter.com/JbYqZ90zJk
— Eric Daugherty (@EricLDaugh) April 12, 2026
He wrote on Truth Social that vessels paying what he called an illegal toll to Iran would not have safe passage. Hours later, U.S. Central Command clarified that the action would only apply to ships going to or from Iranian ports, not those using non-Iranian ports in the area.
The Strait of Hormuz is one of the most crucial energy chokepoints globally. Reuters reported that about 20% of the world’s oil passes through this waterway, and threats to shipping there have pushed global oil prices up about 50% since the U.S. and Israel began the war on February 28.
Analysts told Reuters that a U.S. blockade could turn into an open-ended military operation and might provoke more retaliation from Tehran instead of quickly relieving market pressure.
The price issue has become an increasing domestic challenge for Trump. Polls show the war is unpopular with many Americans, who are frustrated by rising gasoline prices. Trump’s approval rating has fallen to its lowest point in his second term.
The same report indicated that Republicans fear the party could lose control of Congress in the midterms if voter frustration continues to grow.
Iranian officials seized on Trump’s remarks. Iranian parliament speaker Mohammad Baqer Qalibaf wrote on X that Americans should “Enjoy the current pump figures,” adding, “Soon you’ll be nostalgic for $4-$5 gas.”
Enjoy the current pump figures. With the so-called ‘blockade’, Soon you’ll be nostalgic for $4–$5 gas.
ΔO_BSOH>0 ⇒ f(f(O))>f(O) pic.twitter.com/rVxlC6vFWG
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) April 12, 2026
Some U.S. lawmakers also questioned whether Trump’s strategy would help lower prices. Sen. Mark Warner of Virginia, the top Democrat on the Senate Intelligence Committee, expressed concerns on CBS that Iran could still mine the strait or attack tankers. “How is that going to ever bring down gas prices?” Warner said, according to Reuters.
Reuters also reported that Trump suggested the possibility of renewed U.S. strikes inside Iran, including targeting missile factories, if Tehran does not change course.
For now, his own comments indicate that the pressure at American gas stations may last well into an election season that already presents significant challenges for his party.
