President Donald Trump has claimed gas prices, which have doubled since the start of the Iran war, are “way down” as his transportation chief urges Americans to take road trips this summer.
Trump told reporters in Washington, D.C., Thursday night that “gas prices are way down.”
“When the war is over, gas will fall down at levels that you’ve never seen before,” he said during a surprise visit to the Lincoln Memorial’s reflecting pool that he ordered to be renovated.
But gas prices have actually been soaring in recent months as the global oil supply remains choked off amid growing conflict in the Middle East. The national average cost of gas in the U.S. was around $4.56 a gallon Thursday, according to the auto club AAA.
Transportation Secretary Sean Duffy insisted earlier Thursday that the U.S. is in a “good place,” boasting that oil prices had dipped below $100 a barrel.
“You saw yesterday, energy prices came down below $100 a barrel… we’re in a good place,” Duffy told a reporter in Philadelphia.
The reporter asked Duffy when those lower energy prices will be felt at the pump as Americans head into road-tripping season this summer.
“We want to encourage all Americans to take a road trip, whether it be two hours or two days, to see your country,” Duffy said.
“It’s interesting the way gas stations work. When prices go up per barrel, you see that the next day, the prices at the pump goes up, and as prices go down, it takes a bit longer to ricochet through lower prices at the pump,” he added.
California has been hit the hardest at the pump, with gas prices there exceeding $6 a gallon. Gas prices are lower in states such as Texas, Kansas and Alabama, but they still rest at a little more than $4 a gallon.
Many Americans turned to road trips amid economic uncertainty last summer. In an Enterprise Mobility survey published last June, 66 percent of Americans said they planned to take at least one overnight trip more than 50 miles away from home.
Americans’ travel plans were upended when the U.S. and Israel began launching strikes against Iran at the end of February. Iran effectively closed the Strait of Hormuz, a key oil passageway in the Middle East, in retaliation for the strikes.
This action caused oil prices to surge, not only affecting gas prices but also jet fuel prices, leaving travelers with few options for an affordable summer getaway.
Former New Hampshire Governor Chris Sununu, who is the CEO of the trade group Airlines for America, told NewsNation’s Blake Burman Wednesday that airfare costs have increased about 20 percent in the past two months.
Sununu said passengers are “using their rewards and their loyalty programs. They’re redeeming all their points on their credit cards.”
A senior Trump official boasted about Americans’ credit card spending in a Fox News interview Wednesday.
National Economic Council Director Kevin Hassett told host Maria Bartiromo, “Credit card spending is through the roof. They’re spending more on gasoline, but they’re spending more on everything else, too.”
“So gas prices are up 52 percent since the Iran war began. Oil is trading about at $100 right now. The president says, well, he’s just fine if it goes up to $200,” Democratic California Senator Adam Schiff said in a video posted to X Thursday.
“Just think about that when you’re trying to fill up the tank.”
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