President Donald Trump is making a high-stakes promise to Americans: Gas prices will “come roaring down” once the war with Iran ends. The problem is that almost no one in a position to know — not his energy secretary, nor the economists tracking the market — thinks it’ll happen that fast. And for a president heading into a critical midterm election, that gap could prove politically costly.
Before the U.S. launched strikes on Iran, the average price of gasoline was $2.98 a gallon, according to AAA, which tracks the national average. It now sits above $4 — a political pain point for the president and Republicans more broadly.
Trump has insisted that the price increase is temporary and that Americans will see relief soon. “When [the war with Iran is] settled, gas prices are going to go down tremendously,” he told Fox Business on April 14. “If Iran does what they should do, it will come roaring down,” he told PBS News on Monday.
But that timeline has found few supporters inside his own administration — let alone among economists.
This is a preview of Akayla Gardner’s latest article. Read the full article here.
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