Trump says oil and gas prices could remain high through November’s midterm elections

U.S. President Donald Trump gives the thumbs up as he arrives at Miami International Airport in Florida, U.S., April 11, 2026. — Reuters
  • Trump announces naval blockade of the Strait of Hormuz.
  • The Democratic senator questions the US president’s strategy.
  • Trump’s approval rating has fallen since the war with Iran began.

US President Donald Trump said on Sunday that the price of oil and gasoline could remain high through November’s midterm elections, a rare acknowledgment of the potential political fallout from his decision to attack Iran six weeks ago.

“It could be, or the same, or maybe a little bit higher, but it should be about the same,” said Trump, who is in Miami this weekend. Fox News‘ “Sunday Morning Futures With Maria Bartiromo” when asked if the price of oil and gas would be lower this fall.

The average price of regular gas at U.S. gas stations has topped $4 a gallon for most of April, according to data from GasBuddy. Trump’s comments on Sunday came after weeks of arguing that the rise in prices is a short-term phenomenon, even though his top advisers are aware of the economic impact of the war, officials have said.

Earlier on Sunday, Trump announced on social media that the US Navy would block the Strait of Hormuz and intercept any ship that paid a passage fee to Iran after marathon talks between the US and Iran in Pakistan over the weekend failed to produce a peace deal.

“No one who pays an illegal toll will have safe passage on the high seas,” he wrote on Truth Social.

Any US blockade is likely to add more uncertainty to the final resolution of the conflict, which is currently subject to a tenuous two-week ceasefire. The new tactic is in response to Iran’s own closure of the strait’s critical shipping lanes, which has sent global oil prices soaring by around 50%.

Unpopular war hits Trump’s approval rating

The war began on February 28, when the United States launched a joint bombing campaign with Israel against Iran. The scope quickly expanded as Iran and its allies attacked nearby countries, while Israel targeted Hezbollah with massive strikes in Lebanon.

The war has hit global financial markets and caused thousands of civilian deaths, mostly in Iran and Lebanon.

Trump’s political standing at home has suffered, and polls show the war is unpopular with most Americans frustrated by rising gas prices.

The president’s approval rating has hit the lowest levels of his second term, raising concerns among Republicans that his party is poised to lose control of Congress in the midterm elections. A Democratic majority in both chambers could launch investigations into the Trump administration while blocking much of his legislative agenda.

U.S. Sen. Mark Warner of Virginia, the ranking Democrat on the Senate Intelligence Committee, questioned the strategy behind Trump’s planned blockade.

“I don’t see how blocking the strait will somehow push the Iranians to open it,” he said. CNNs “State of the Union” on Sunday.

In a separate appearance on CBS’s “Face the Nation,” Warner said the blockade would not undermine Iranian control of the waterway.

“The Iranians have hundreds of speedboats where they can still mine the strait or put bombs against tankers to close the strait,” he said. “How will that ever bring gas prices down?”

Although Trump has repeatedly said the war would soon be over, Republican US Senator Ron Johnson of Wisconsin said ABC News“This week” on Sunday, that achieving US goals in Iran “could take a long time.”

“It’s going to be a long-term project,” said Johnson, who was not asked about Trump’s proposed blockade. “I never thought this would be easy.”

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