US President Donald Trump said that Americans can expect lower fuel prices immediately after the end of the war with Iran, rejecting a more cautious forecast from his energy secretary, reports "Reuters".
A day earlier, Energy Secretary Chris Wright told CNN that although gasoline prices could fall below $3 a gallon "it could be later this year, it might not happen until next year".
However, Trump sharply disputed that assessment. "I think he's wrong about that. "Absolutely wrong," he told a reporter for The Hill, adding that prices would come down "as soon as the war is over." Despite the timing differences, Wright also acknowledged that "as this conflict is resolved, you're going to see prices come down." But it's unclear when the conflict will end. The fragile ceasefire is about to expire, and the prospects for a new round of peace talks remain uncertain. The remarks come amid mounting political pressure on Trump and his Republican allies ahead of the November midterm elections. The administration has been criticized for failing to deliver on promises to reduce the cost of living.
With months to go until the vote, U.S. fuel prices remain high, inflation is accelerating and the president's approval rating is falling.
According to AAA, the average price of a gallon of regular gasoline reached $4.04 on Monday, up from $3.15 a year earlier. Against this backdrop, global oil prices rose about 5% on the same day.