White House predicts gas prices will come down rapidly following the Iran war

The White House said Tuesday that gas prices will drop swiftly once President Trump achieves his war aims in Iran.

The Iran war, which began 10 days ago, ushered in a rapid increase in oil prices, which translates to higher costs at the pump. After spiking to $120 a barrel on Monday, oil prices dropped to around $85 a barrel on Tuesday, with the benchmark Brent crude settling at roughly $90.

“Once the national security objectives of Operation Epic Fury are achieved, Americans will see oil and gas prices drop rapidly, potentially even lower than they were prior to the start of the operation,” White House press secretary Karoline Leavitt said.

Gas prices are up 20% versus a month ago, undercutting Mr. Trump’s economic message and posing a political risk for Republicans in a midterm season that will likely hinge on economic issues.

Oil prices are rising because Tehran clamped down on traffic through the Strait of Hormuz, a major oil artery, and lobbed missile strikes at oil-producing Gulf states.

Ms. Leavitt said the U.S. had not escorted any tankers through the Strait of Hormuz despite a since-deleted social media post from Energy Secretary Chris Wright on Tuesday suggesting an escort had taken place.

She also said the White House had planned for “temporary disruptions” in energy markets.

She pointed to a new reinsurance program to backstop tankers against losses in the Middle East, plus sanctions waivers and an offer from the U.S. Navy to escort tankers through the Strait of Hormuz.

Yet the average national price per gallon at the gas pump rose 50 cents in the last week, squeezing drivers shortly before the warm-weather driving season, when prices tend to rise anyway.

Democrats are proposing moves to alleviate prices as they accuse Mr. Trump of Marie Antoinette-level indifference to the plight of American drivers.

“Donald Trump is lost in a sea of delusional thinking. As gas prices rise, here’s what Trump says: ’If they rise, they rise. Tough luck, America,’” Senate Minority Leader Charles E. Schumer, New York Democrat, said in a floor speech, imploring Mr. Trump to tap into the Strategic Petroleum Reserve. “He has no clue what it’s like to struggle to pay for gas, to pay for the rent, to pay for groceries. He’s in a bubble.”

Sens. Mark Kelly, Arizona Democrat, and Richard Blumenthal, Connecticut Democrat, introduced the Gas Prices Relief Act of 2026, which would suspend the 18.4 cents-per-gallon federal gas tax through Oct. 1.

Mr. Trump repeatedly boasted about progress on gas prices before the war, making it one of his favorite economic benchmarks and a liability so long as prices are rising.

“Slashing energy costs is among the most important actions we can take to bring down prices for American consumers,” Mr. Trump told a supportive crowd in Corpus Christi, Texas, on Feb. 27. “Because when you cut the cost of energy, you really cut — you just cut the cost of everything.”

The U.S. and Israel started bombing Iran that evening, and Tehran responded with missile strikes on Gulf states that are major oil producers.

Crude oil prices briefly exceeded $100 earlier this week, causing a major selloff on Wall Street.

Mr. Trump worked to ease the markets, telling reporters Monday that the war was a “short-term excursion” that could end soon. His comments immediately eased the markets.