Trump tells Americans to prepare for and accept higher oil prices amid an ongoing war with Iran that shows no signs of ending, following Iran's firm declaration that it alone will decide when to open or close the Strait of Hormuz.
US President Donald Trump warned Americans to prepare for potentially sustained high fuel prices as the war between the US and Iran drags on, with no progress in peace talks.
Speaking in Garden City, New York, on Friday, Trump said Americans might have to pay a bit more for gasoline, but that this price must be accepted to prevent Iran from obtaining nuclear weapons. He called Iran a very evil country.
According to the American Automobile Association (AAA), the average gasoline price in the US was about $4.08 per gallon on Friday, up approximately 29 percent from the same period last year.
Meanwhile, Iran continues its hardline stance. Iranian Deputy Foreign Minister Qasem Garibabadi posted on X that the Strait of Hormuz will only be opened or closed under Iran's command. He urged the US to accept defeat and reiterated Iran's intention to continue enforcing the blockade.
Garibabadi also responded to Trump's threats, stating that the Strait of Hormuz cannot be seized through social media posts, aircraft carriers, orders, or campaign speeches.
The Strait of Hormuz is one of the world’s most critical energy transit routes. Before the conflict, about one-fifth of the world’s exported oil passed through this strait, so the disruption of navigation is putting global energy markets under pressure.
Data from shipping tracker Kpler showed that on Friday, only a few ships passed through the Strait of Hormuz, with no crude oil tankers observed. Before the war, more than 130 vessels passed daily, highlighting the severe impact of the escalating conflict.
This situation is directly affecting oil markets. On Friday, Brent crude oil prices rose by $1.45 to $88.52 per barrel, while WTI crude increased by $1.15 to $82.40 per barrel, with both markets trending upward throughout the week.
Additionally, attacks on ships in the Strait of Hormuz occurred. The UAE’s national oil company ADNOC revealed that one of its vessels was attacked while transiting the strait on Thursday, with reports of another attack on Friday, though no injuries were reported.
Peace talks between the US and Iran remain stalled. Iran's foreign minister said no decision has been made on whether to resume negotiations with the US. Qatar and Pakistan continue to act as intermediaries exchanging messages with Iran, but no formal talks have taken place.
Meanwhile, Trump escalated his rhetoric about the Strait of Hormuz, stating that after the US defeats Iran, he will declare the strait US territory, further heightening tensions with Iran, which has consistently asserted its control over the strait.
/source:channelnewsasia
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