US President Donald Trump said that gasoline prices in the country could fall below $2 per gallon, but expects such a decline only after the midterm elections in November. Against the backdrop of a new escalation between the US and Iran, the average price of gasoline in the country has already exceeded $4.22 per gallon, Reuters reports, writes UNN.
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The increase in fuel prices is linked to the escalation in the Middle East and concerns about energy supplies through the Strait of Hormuz. Against this backdrop, Brent crude has already risen to more than $100 per barrel.
They (the prices — ed.) will fall, and we will bring them down. I think the price of gasoline will fall below $2 per gallon. But not until after the midterm elections
Trump linked prices to the war against Iran
High fuel prices pose additional risks for the Republican Party ahead of the midterm elections. According to AAA, the average price of gasoline in the US currently exceeds $4.22 per gallon.
Trump also suggested that the war with Iran would end shortly after the elections. Without providing evidence, he accused Tehran of allegedly trying to prolong the hostilities in order to influence the outcome of voting in the US.
I think the war will end immediately after the elections because they can no longer hold out. They are desperately trying to influence the elections
The US midterm elections will take place in November. The economy and the cost of living remain among the key issues for American voters, while rising energy prices have increased pressure on consumers.