Trump Urges Americans to Accept Higher Gas Prices Amid Iran Tensions
US President Donald Trump has urged Americans to accept higher gasoline prices as the cost of confronting Iran, amid escalating tensions over the Strait of Hormuz.
The comments came at a rally in Garden City, New York, on August 14. According to Reuters, Trump said Americans would have to pay 'a little bit more' for gasoline to prevent Iran from obtaining a nuclear weapon.
US gasoline prices have climbed sharply amid the disruption, reaching an average of $4.08 per gallon on August 14, up 29% from a year earlier, according to data from the American Automobile Association (AAA).
The Strait of Hormuz is one of the world's most important energy chokepoints, with around 20 million barrels per day (bbl/d) of crude oil and petroleum products passing through it in 2025, equivalent to approximately 25% of global seaborne oil trade.