March 6, 2026
The one thing President Trump has consistently pointed to that he says proves that his economy is the best in history – is gas prices.
But now – that we are seeing gas prices soar because of this war with Iran – Trump’s tune has completely changed. When asked about the rising prices — Trump told Reuters…
“”I don’t have any concern about it.” they’ll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit.”
The issue is Trump keeps giving different timelines for when this is all going to be over. Initially he said it could be a few days, then he said a few weeks, then he said a month and most recently he said we’ll be there as long as it takes. Trump said today – that this won’t be over until there’s “unconditional surrender” from Iran. Look – that could take a very long time. And in the mean time Iran has effectively shutdown the Strait of Hormuz which transports about 20% of the global oil supply. Iran has shut it down because they said any tanker that bears the flags of the united staets, or Israel or Europe will be targeted with missiles. So to get the energy flowing again, president trump has offered u-s military escorts for these oil tankers through the straight. Though those haven’t started yet. Besides that – a lot of the global oil supply comes from middle east countries — which have all basically been dragged into this war. So what’s that doing?
This.
This is it the chart that maps the price of oil per barrel in the United States. Here’s the oil price before the US strikes in Iran… here’s the price the first trading day after and here’s today – for at least a time – the price for a barrel of oil topped $91. That is a 36% increase in the price of oil since this all started.
And that’s translating to the price you pay at the pump for gas. According to AAA the national average for a gallon of regular today is $3.32. That is 34 cents higher than it was last week and 7 cents higher than just yesterday.
Trump’s social media post here.
Trump’s comments to Reuters here.
