US President Donald Trump said on April 12 that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political fallout from his decision to attack Iran six weeks ago, Reuters reported.
“It could be, or the same, or maybe a little bit higher, but it should be around the same,” Mr Trump, who is in Miami for the weekend, told Fox News’ Sunday Morning Futures With Maria Bartiromo when asked whether the cost of oil and gas would be lower by the fall.
The average price for regular gas at US service stations has exceeded US$4 (S$5) per gallon for most of April, according to data from GasBuddy. Mr Trump’s comments on April 12 came after weeks of asserting that the spike in prices is a short-term phenomenon, though his top advisers are cognisant of the war’s economic impacts, officials have said.
