Talk about it after the election? Trump admits that high oil prices will be endured until the midterm elections, putting pressure on the Republican Party's election prospects.
U.S. President Donald Trump expects that military conflict with Iran will continue until after the midterm elections in November, and a significant drop in gasoline prices will not occur before then.
U.S. President Donald Trump expects that military conflict with Iran will continue until after the midterm elections in November, and a significant drop in gasoline prices will not occur before then. This outlook may further exacerbate the political risks for the Republican Party in the upcoming elections.
Recently, tensions have escalated again in the Middle East, with increasing concerns about the security of energy transport in the Strait of Hormuz, pushing international benchmark Brent crude prices above $100 per barrel. When asked about the ongoing rise in oil prices, Trump stated that prices will eventually fall, but it will be difficult to achieve this in the next two months.
"I think it will take longer than the midterm elections," Trump told reporters before departing for Dallas to attend the Republican midterm conference. "Gas prices will fall sharply, and we will drive them down. In terms of gasoline, we will get it below $2 a gallon, but that will be after the midterm elections."
According to data from the American Automobile Association (AAA), the current average gasoline price in the U.S. hovers above $4.22 per gallon, making it one of the biggest political threats facing Trumps Republican Party in the midterm elections.
Voters view the economy and living costs as top concerns, and polls show that they rate Trump poorly on his handling of both issues. With less than two months until the midterm elections on November 3, an August poll indicated that living costs had become the most pressing midterm election issue for American voters, with 47% of registered voters listing it as the most important factor determining their voting choice; 71% of the public disapprove of Trumps response to the cost of living problem. Trump's overall approval rating has dropped to a record low of 33% during his term; betting markets indicate a 90% probability that the Democratic Party will gain control of the House of Representatives.
The Republican Partys traditional advantage on economic issues is weakeningDemocrats have led the Republicans for a month on the question of "which party is better able to handle economic problems," marking the first time in a decade. Republican campaign strategists admit that energy prices and tariffs are particularly impacting Republican candidates in key states like Michigan, Maine, and Iowa. Trump launched military strikes against Iran in collaboration with Israel at the end of February, causing global energy supply shocks and subsequently driving up fuel prices.
Trump, without providing evidence, accused Iran of attempting to prolong the conflict to inflict political damage on his party in the fall elections.
"I believe the war will end immediately after the elections because Iran will no longer be able to sustain itself by then. They are eager to intervene in the elections to bring a group of weak people to power, allowing Iran to have nuclear weapons," he stated.
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