Stephen King criticizes Trump over unaffordable gas prices amid Middle East tensions
Author Stephen King recently criticized President Donald Trump over rising gas prices, which he noted are straining many households. King shared on X that he paid $5.32 per gallon for high-test gasoline, adding, 'Lots of folks can't' afford such costs. According to AAA, regular gasoline averaged $4.37 per gallon on Sunday, up from $4.15 a month ago and $3.14 a year ago. Diesel prices also surged to $6.34 per gallon.
The price hikes come amid escalating tensions in the Middle East, particularly with Iran. Mohsen Rezaei, Iran's top security official, disputed Trump's claim that Tehran is close to surrendering. In response, the Pentagon announced plans to deploy an additional 10,000 troops to the region. Trump also backtracked on threats to ban diesel exports, citing an agreement from Europe to release stockpiled diesel oil.
The G7 has agreed to release 100 million barrels of oil and fuel from emergency stocks to ease the pressure on prices. Meanwhile, the latest personal consumption expenditures report showed energy as the primary driver of inflation in August, with gasoline and other energy goods up 4.4%. Headline PCE rose 0.3% month over month, while core PCE increased 0.2%. At the time of writing, Brent crude was down 0.91% at $101.67 a barrel, and WTI futures were down 0.72% at $90.45.