President Donald Trump declared that national gas prices will eventually fall below two dollars a gallon, tying the prediction directly to a U.S. victory in the ongoing conflict with Iran.
Trump made the promise in a Truth Social post Monday night. "Oil prices will drop precipitously, like everything else is dropping (but more!), when we WIN the war with Iran," he wrote. He predicted prices would reach "Three Dollars a gallon, but ultimately, below Two Dollars a gallon" and said the drop "will all happen quickly."
The conflict began Feb. 28 with joint U.S.-Israeli airstrikes. It has now extended beyond six months and killed 18 American service members.
The war has become unpopular with voters. Trump's approval ratings have remained weak, a trend tied to both high consumer prices and the Iran conflict.
Administration officials have downplayed the severity of the situation. Vice President JD Vance, during his first White House briefing in 40 days last week, said of the conflict's end: "I wouldn't call it a war."
Trump echoed that framing last week in the Oval Office, calling the conflict "small potatoes" and a "military conflict." He compared the 18 American casualties to "100,000 people" lost in Vietnam and referenced operations in Venezuela where "we lost nobody."
He characterized the action as "intermittent strikes," adding: "We are not fighting right now. There is no fighting." Trump asserted strong U.S. control over the Strait of Hormuz. "We control the Hormuz Strait. We control it very strongly," he said.
Gas prices exceeding four dollars a gallon mark the highest national average for a Labor Day weekend on record. The last time prices consistently fell below two dollars was during the COVID-19 pandemic, when demand collapsed.
