Gasoline prices in the U.S. have fallen to $4 per gallon just days after the midterm elections, a development the White House highlighted by referencing former President Donald Trump’s past statements about post-election price declines.
A White House official stated in a release that Iran’s efforts to drive up oil prices ahead of the midterms contributed to the price surge, which has since reversed. The official noted that Trump had previously asserted prices would fall after the elections, framing the current drop as validation of that claim.
The price decline follows a period of elevated fuel costs, which coincided with escalating tensions between the U.S. and Iran. The conflict, described by the U.S. and Israel as a pre-emptive war to contain Iran’s nuclear and ballistic missile programs, began with airstrikes on February 28. Iran subsequently launched drone and missile attacks on at least 11 countries, including the United Arab Emirates and Israel, straining global air defense stockpiles.
During the conflict, the U.S. deployed additional Patriot and Terminal High Altitude Area Defense (THAAD) systems to the Middle East to protect U.S. bases and allied nations. The Pentagon’s estimated cost of the war reached $47 billion by early August, according to reports.
In a separate development, President Trump stated in a CBS News interview that Middle Eastern allies should reimburse the U.S. for war expenses, asserting that without American protection, some nations would not exist. He specifically mentioned Israel’s survival as dependent on U.S. support, while also noting Iran’s attacks on regional countries. The White House has not responded to requests for comment on Trump’s remarks.