Gas Prices May Stay High Until November Midterm Elections: Trump

Washington: US President Donald Trump said Sunday that oil and gasoline prices could remain elevated through November's congressional midterm elections, amid ongoing tensions linked to the conflict with Iran.

Speaking to reporters, Trump said prices may "stay the same or rise slightly" in the coming months, signaling limited short-term relief for consumers.

US gasoline prices have averaged above $4 per gallon for most of April, according to data from GasBuddy, reflecting continued pressure on global energy markets.

Trump's remarks come weeks after he described the surge in fuel prices as temporary, even as his administration acknowledges the broader economic impact of the conflict.

Earlier Sunday, Trump announced that US naval forces would move to block vessels paying transit fees to Iran through the Strait of Hormuz, following unsuccessful talks between the two sides. The move is expected to add further uncertainty to global oil markets, already affected by disruptions in the vital shipping lane.

Global oil prices have surged sharply in recent weeks amid the escalating tensions.

With the November elections approaching, rising fuel costs are emerging as a key political issue in the United States.

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