US President Donald Trump said he is not worried about rising petrol prices in the United States during the ongoing conflict involving Iran, saying the military campaign remains his main focus, according to Reuters.
In an interview with Reuters, Trump said the increase in fuel prices linked to tensions in the Middle East was not his immediate concern and expected prices to fall once the conflict ends.
“I don’t have any concern about it,” Trump said when asked about higher prices at petrol stations.
“They’ll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit,” he told Reuters.
Global oil prices have increased since the conflict began, raising concerns about supply disruptions in the Middle East.
The region is a major source of oil exports, and tensions can affect shipments through the Strait of Hormuz, a key route for global oil transport.
According to the American Automobile Association, the average price of petrol in the US has risen by 27 cents in the past week to about $3.25 per gallon. This is about 15 cents higher than a year ago.
Trump said the rise was limited.
“They haven’t risen very much,” he said in the interview with Reuters.
Trump said he was not planning to release oil from the country’s emergency stockpile, the Strategic Petroleum Reserve, which is the world’s largest reserve of crude oil held for emergencies.
He also said he expected oil shipments through the Strait of Hormuz to continue.
Officials in the White House are discussing possible ways to reduce fuel prices if they continue to rise.
White House press secretary Karoline Leavitt said Chief of Staff Susie Wiles and Energy Secretary Chris Wright have spoken with oil company leaders to discuss possible responses.
A White House official, speaking anonymously, told Reuters that government teams were looking at measures that could help lower prices if needed.
Officials believe the price increase could be temporary as the conflict continues.
Source: The Indian Express
--Agencies
