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Trump says fuel prices are ‘not very high’ as Iran war limits supply
June 10, 2026, 2:25 p.m. ET
President Donald TrumpĀ said fuel prices are ānot very high, relatively speaking,āĀ though the ongoing Iran war has spiked the cost of gas and some Americans have grown impatient with the Trump administration’s handling of the conflict.
The president’s comments, which he made to reporters earlier this week, come after a new Reuters/Ipsos poll showsĀ 60% ofĀ Americans disapprove ofĀ U.S. military strikes against Iran āĀ andĀ a majorityĀ expect gas pricesĀ willĀ continue rising.
As ofĀ June 10, the average price per gallon for regular gasoline was $4.15, down from $4.26 the week before, and down from $4.52 the month prior,Ā according to AAA. This time last year, it was $3.12.
Blockades in the Strait of Hormuz have limited the global oil supply. Since the conflict began, regular gasoline costsĀ areĀ up nearly 40%.Ā In May, gas prices shot up 7% following a 5.4% rise in April and a 21.2% surge in March, according to Labor Department data released June 10.
“The numbers were great,ā Trump told reporters reacting to the Consumer Price Index report which showed annual inflation climbed to 4.2% in May. āI love the inflation. You know why?”
Trump then said the United States has been “taking out millions of barrels of oil” from Iran, adding those efforts are aimed at helping to bring down fuel prices.

The president last month told reporters that Americans’ financial problems were “peanuts” compared to the prospect of Iran having a nuclear weapon. He asked Americans for patience and said elevated prices would not last āmuch longer.ā
But many Americans don’t believe prices will drop soon. Of the 4,531 Americans surveyed in the Reuters/Ipsos poll, 59%Ā said they believe gas prices will get worse over the next yearĀ because ofĀ the war, including 83% of Democrats, 61% of Independents, and 34% of Republicans.
And higher prices at the gas pumpĀ have soured Americansā feelings about the economyĀ in 2026. The University of Michiganās measure of consumer sentiment sank to its lowest level in May since the survey began keeping track more than seven decades ago.Ā At 57%, aĀ majority of those surveyed saidĀ high pricesĀ āwere eroding their personal finances,ā according to Surveys of Consumers Director Joanne Hsu.
Fuel prices have come down since the start of last month amidĀ hopes of a de-escalationĀ in the Middle EastĀ andĀ reports that some tankers are managing to exit the gulf.
āAĀ lot of oilĀ isĀ coming out of the Hormuz strait,ā TrumpĀ told reporters after attending game 3 of the NBA finals. āA lot of it is coming out, and if you notice, the price is notĀ very high,Ā relatively speaking. I mean,Ā itāsĀ lower than during the Biden administration, and heĀ wasnātĀ stopping a country from having a nuclear weapon.āĀ
The price of a barrel of crude oilĀ hit $117.60Ā inĀ AprilĀ a little more than a month after the war began.Ā ItāsĀ sittingĀ at $90.30Ā as of the afternoon on June 10.Ā ThatāsĀ still relatively high, butĀ not asĀ high as it was inĀ MarchĀ 2022Ā when the price rose to a record high of $130.50 per barrel following Russiaās invasion of Ukraine, which like the Iran war, limited the global oil supply.
Reach Rachel Barber atĀ rbarber@usatoday.com, follow her on XĀ @rachelbarber_, and subscribe to her newsletter “Making More of Your Money”Ā here.Ā
