U.S. President Donald Trump has once again downplayed the significant impact of the conflict with Iran on American consumers, justifying the sharp rise in oil prices as a "small price to pay" for stopping Iran's attempts to obtain nuclear weapons, UNN reports citing CNN.
Details
Trump suggested that the price per barrel of oil has not risen as much as he expected.
"I also thought the price of oil would go up to 200, 250, maybe 300 dollars, and I know that would be short-term," he told reporters.
Trump continued: "Today it is around 102 dollars, and that is a very small price to pay for saving people from nuclear weapons held by those who are truly mentally unstable."
When the war is over, Trump said, the price of oil will simply stabilize.
Context
According to AAA, the average price for a gallon of gasoline is currently $4.48, and it has risen significantly by 31 cents this week in recent days. The average gasoline price in the U.S. has increased by approximately 50% since the start of the conflict, which has been ongoing for over nine weeks.