In the wake of the U.S. attack on Iranian nuclear facilities, President Trump on Monday urged “everyone” to keep oil prices down.
“EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!” Trump said on Truth Social.
Oil is traded on a global market, and the energy produced in not only the U.S. but in players around the world including Iran, Russia and Saudi Arabia contribute to the prices that Americans pay at the pump.
Prices have spiked in recent days amid escalations between the U.S. and Iran — and gasoline prices were up an average of 8 cents compared to a week ago, according to the American Automobile Association. The $3.22 cent average price was still well below highs in 2022 when the national average was as high as $5 per gallon.
Iranian state media reported Sunday that Tehran is considering a closure of the Strait of Hormuz, through which much of the world’s oil supply flows, threatening further price increases.
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Author: Dillon B
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