President Donald Trump did not take the rising gas prices and the impact on the stock market due to the war with Iran very seriously. He said that the situation was not as bad as he expected.
Convening a meeting of his Cabinet at the White House, Trump said, “Frankly, I thought oil prices would rise further, and the stock market would fall further. But, the situation was not as serious as I thought.”
He added: “I think people probably have confidence in the American president, and probably in the people sitting around this table.”
‘Maybe… it can increase a little more’
According to AAA, the national average price of a gallon of regular gas has approached $4, currently sitting at $3.981. This price is $1 higher than a month ago, and could become a major political problem for the Republican Party ahead of the midterm elections in November.
Trump predicted that oil prices would “probably … go up a little bit more,” but added that “they’ll all come back down to where they were before, and probably go down even lower.”
Will the deadline be met or not?
President Donald Trump said he is not sure whether he will make Iran meet the Friday deadline he has set for reopening the Strait of Hormuz.
Trump said, “I don’t know yet. I don’t know. Mr. Witkoff, JD and Jared will tell me what they think, whether the negotiations are moving in the right direction or not? And if it’s not moving in the right direction, then maybe we don’t meet that deadline.” Here Trump was referring to Vice President JD Vance, Special Envoy Steve Witkoff and his son-in-law Jared Kushner, to whom he has entrusted the responsibility of negotiations.
This deadline actually ended last Monday, but due to diplomatic talks, Trump extended it till Friday. Just a day before the second deadline, Trump indicated there was still plenty of time left.