Trump's Gas Price Gamble: 'We May Have to Send It Up Again'

At a recent rally in Las Vegas, President Donald Trump made some bizarre claims about the economy and gas prices. He stated that the country's inflation rate was inherited from the previous administration and that his administration has been working to bring down prices.

However, he then acknowledged that oil prices remain high due to Iran's control of the Strait of Hormuz, which is a major shipping route for crude oil.

'When oil goes down, and it's going to go down very rapidly and is already happening, we may have to send it up again,' Trump said. 'But we don't have to.'

Experts disagree with the President's claims that his policies will bring down gas prices. Dr. Ed Gresser, Vice President and Director for Trade and Global Markets at the Progressive Policy Institute, stated that destruction of Iranian energy facilities in the Persian Gulf area would likely keep crude oil prices high in the medium term.

'I would guess that yes, destruction of Iranian (and some other) energy facilities in the Persian Gulf area will have at least a medium-term effect keeping prices for crude oil and chemical fertilizer high,' Gresser said.