Iran strikes risk more voter frustration on the economy with rising gas prices
NBC News
Barely a week after President Donald Trump hailed falling gas prices as one of his economic triumphs, his actions are sending the cost per gallon back up
Barely a week after President Donald Trump hailed falling gas prices as one of his economic triumphs, his actions are sending the cost per gallon back up.
The war Trump launched with strikes on Iran has spread across the Middle East, where more than a quarter of the world’s oil is produced.
Gas prices spiked almost immediately, undercutting a key data point in Trump's argument to skeptical Americans that the economy is soaring.
"Gasoline, which reached a peak of over $6 a gallon in some states under my predecessor — it was, quite honestly, a disaster — is now below $2.30 a gallon in most states, and in some places, $1.99 a gallon," Trump said in his State of the Union address.
Though his numbers were rosier than the real figures, gas prices looked to be a strong talking point for Republicans heading into November's midterm elections.
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The price of oil surged Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.
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Oil continued its recent surge Sunday, hitting $100 per barrel for the first time since July 2022 as the ripple effects from the U.S. war on Iran continued to hit global markets.
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Barely a week after President Donald Trump hailed falling gas prices as one of his economic triumphs, his actions are sending the cost per gallon back up
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