Washington, March 8: President Donald Trump has stated that he is not worried about rising fuel prices despite the ongoing conflict with Iran. He believes there is ample supply in global oil markets, and any price spikes will be temporary.
During a conversation with reporters aboard Air Force One, Trump described the conflict as a short-term campaign and dismissed concerns about its economic impact. He remarked, “I’m not worried about oil prices right now.”
Trump characterized the military operation as a long-overdue intervention, saying, “This is a small effort that should have happened 47 years ago. No president had the courage to do it.”
He predicted that while the oil market may react in the short term, it will stabilize quickly. “We anticipated that oil prices would rise, but they will come down as well,” he added.
The President emphasized that despite the ongoing conflict in the Middle East, global oil supply remains strong. He noted, “We have a large supply of oil in our country, and there is a significant reserve worldwide.”
When asked if Washington could take additional steps to ease pressure on global energy markets, Trump replied, “If needed, I would do something to relieve some pressure.”
He mentioned that the government might consider utilizing the Strategic Petroleum Reserve based on market conditions.
Additionally, Trump criticized the previous administration for depleting the U.S. emergency oil reserves. “I filled it up, and they brought it down to the lowest level ever. The U.S. will decide to refill reserves based on market conditions. We will start at the right time.”
Responding to concerns about shipping through the Strait of Hormuz, one of the world’s most critical oil transit routes, Trump stated, “It’s up to the ships.” He argued that Iran’s naval capabilities have already been severely weakened during the conflict.
“We have completely destroyed their navy. The navy is now at the bottom of the sea,” Trump concluded.
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