U.S. President Trump argued that oil prices would fall rapidly if the military conflict with Iran ends. Claiming that the process would not last very long, Trump said prices other than oil had declined sharply.
Trump blamed the administration of former U.S. President Joe Biden for price increases across the United States. Claiming that oil prices were higher during the Biden administration than they are now, Trump said his administration had prevented Iran from acquiring a nuclear weapon.
Trump said the flow of oil through the Strait of Hormuz was continuing. He argued that countries that had not helped the United States should cover the U.S. costs once the conflict ends and said they would do so.
In another statement, Trump said Ukraine and Russia had agreed not to strike each other's energy targets. He claimed that the main reason for the rise in diesel prices worldwide was not Iran but, to a large extent, the Russia-Ukraine war.
The average price of diesel in the United States exceeded $6 per gallon for the first time last week amid supply shortages. According to data from the American Automobile Association, the average price reached a record $6.23.