What Trump Said At Joint Base Andrews
Trump told reporters the Iran war is keeping prices elevated and that relief will come only after voters head to the polls in early November. "Right after the election, oil prices are going to be tumbling downward," he said. Asked how he would explain the recent surge to Americans, he answered, "All you have to do is say, 'Will you let Iran have a nuclear weapon?' And the answer is no."
He further predicted the war - now seven months old and showing no obvious end - would conclude "immediately after the election." Pressed on why, he said, "They can't hold out any longer," and argued Tehran wants to sway the vote against him. He added, "They're desperate to try and affect the election, so that we can get a nice weak group of people in there, and leave them alone and let them have their nuclear weapon," framing it as an effort to turn voters against him.
Trump further maintained that record-high gas prices would drop to under $2 per gallon, though only after the early November midterms, adding, "I think it's going to take a little bit longer than the midterm."
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Market Moves and the War Backdrop
The comments came amid an oil surge: Brent moved past $101 a barrel - its first time at that level since July - and U.S. West Texas Intermediate futures rose above $96 a barrel at the session peak.
Throughout the war, Trump has often declared victory and said a peace agreement with Tehran was close, yet none has materialized. Recently, he has leaned away from forecasting a diplomatic breakthrough and toward a goal of defeating Iran by crushing its military and starving its economy.
Politics, Timing, and the Price Squeeze
Trump's comments amount to a rare admission that neither the conflict nor the higher prices tied to it are likely to ease soon. That reality continues to weigh on him and the GOP in an election season dominated by worries about inflation and day to day affordability.
What This Means For Your Money
If you are watching gas and heating costs, the timeline he laid out points to any relief arriving after early November. He said pump prices could fall below $2 a gallon, but not before then - suggesting at least an eight week wait.
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