U.S. President Donald Trump predicted a sharp decline in oil prices following what he described as a U.S. “victory” in the war with Iran, while reiterating that Tehran would never be able to acquire a nuclear weapon.
In a post on his Truth Social platform, Trump said oil prices would “drop very sharply” after the United States achieves victory in the war, suggesting that the decline would be greater than the price drops seen in other commodities.
Trump Predicts Gasoline Will Fall Below $2 a Gallon
Trump linked the expected decline in oil prices to lower gasoline prices in the United States, predicting that gasoline could initially fall to around $3 per gallon before eventually dropping to below $2 per gallon.
The president said the changes would occur “quickly,” but did not provide a specific timeline for reaching those price levels or explain in detail which factors would drive oil and gasoline prices to such levels.
Trump Reiterates Pledge on Iran’s Nuclear Program
In the same statement, Trump renewed his tough position on Iran’s nuclear program, declaring that Iran would “never have a nuclear weapon.”
His remarks come amid the ongoing war with Iran, which has disrupted energy markets and maritime traffic through the Strait of Hormuz, one of the world’s most important routes for global oil shipments.
Oil Market Disruptions and Strait of Hormuz
Trump previously said oil flows through the Strait of Hormuz had returned to roughly their previous levels, estimating that around 18 million barrels per day were moving through the strategic waterway amid continued U.S. naval operations related to the war with Iran.
Oil prices, however, are influenced by a wide range of factors, including global supply and demand, production levels, inventories and geopolitical developments.
As a result, Trump’s projections for a sharp decline in oil prices and gasoline falling below $2 per gallon remain future estimates and do not necessarily mean those price levels will automatically be reached once the war ends.
