Trump Defends $4 Gas Prices as Iran Conflict Continues

President Donald Trump has defended rising gasoline prices above $4 per gallon, linking them to national security goals against Iran. Speaking at a rally in Garden City, New York, Trump stated that he will 'never apologize' for the price increase, asserting that it prevents a 'very evil country' from acquiring a nuclear weapon.

The current pricing environment contrasts with Trump's campaign pledges in August 2024 to reduce energy prices by 50% and bring gasoline below $2 a gallon. Instead, prices have surged during the ongoing conflict with Iran, reaching $4.07 per gallon for gasoline and $5.40 per gallon for diesel.

The higher energy prices contribute to elevated inflation in the US, prompting some Federal Reserve officials to advocate for higher interest rates. Data released this week shows that the US Consumer Price Index (CPI) slipped to 3.4% in July from 3.5% the previous month.