After weeks of creeping up, fuel prices in the U.S. had fallen slightly as of Saturday, according to AAA. President Donald Trump also announced that “massive numbers of completely empty oil tankers, some of the largest anywhere in the World,” are heading here to “load up with the best and ‘sweetest’ oil (and gas!) anywhere in the World,” in a Truth Social post.
Trump announced in late February that the U.S. had joined Israel to bomb Iran, leading to a blockage at the Strait of Hormuz, an important travel route for the world’s oil. That meant that oil was trapped behind the blockage, that oil prices went up, and that prices went up at the gas pump here in the states.
Prices sailed past $4 per gallon and were at $4.153 on Friday. By Saturday, it had fallen just a bit, to $4.135 per gallon, following Trump’s announcement that the U.S. and Iran had come to a two-week ceasefire agreement. Vice President JD Vance also traveled to Pakistan this weekend for more peace talks.
However, NBC News reported Saturday that Israeli Prime Minister Benjamin Netanyahu said the Iran campaign isn’t over yet. Already, 13 U.S. servicemembers have died in the attacks, along with members of the Iranian military and government, as well as civilians.
On March 12, U.S. Secretary of Energy Chris Wright said Trump had authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve. In his Truth Social message, the president said that “we have more oil than the next two largest oil economies combined – and higher quality.”
Experts have noted that the elevated fuel prices in the U.S. can also impact the prices of goods due to increased transportation costs. Additionally, experts have warned that much of the fertilizer that U.S. farmers rely on also flows through the Strait of Hormuz along the Iranian coast. Trump also addressed that issue in another Truth Social post from Saturday.
“I am watching fertilizer prices CLOSELY during our FIGHT FOR FREEDOM in Iran,” he said. “The United States will not accept PRICE GOUGING from the fertilizer monopoly! American Farmers, we have your back!”
In another post, Trump criticized the media and, that Iran is LOSING “BIG” and that the strait would soon be open. Since the conflict began, polls have consistently shown that Americans are not in favor of the military action in Iran.
