President Donald Trump said that gas prices will decrease to $2 per gallon after the November midterm elections.
“Right after the election, oil prices are going to be tumbling downward,” Trump told reporters on Wednesday, just before embarking on a flight to the Republican National Committee convention in Dallas. “They’re going to be tumbling down, and we’ll get them down. I think for gasoline, we’ll get them below $2 a gallon.”
Gas prices hit a Labor Day weekend record, with the national average for a gallon of gas at $4.15 on Monday, according to AAA. Just two days later, gas prices are at an average of $4.22 per gallon. But don’t expect relief in the next few weeks.
“I think it’s going to take a little bit longer than the midterm,” Trump said about gas prices.
Since the Iran war began and Tehran seized control of the Strait of Hormuz, oil and gas prices have shot up to the detriment of the GOP. Republicans are attempting to keep control of the House and Senate during the midterm elections, but they are facing voter frustration over the cost of living.
Trump claimed that Americans can expect to see the war end after the elections and presumably see gas prices decline.
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“I think the war is going to end immediately after the election,” he said. “I think the war will end immediately after the election because they can’t hold out any longer.”
Trump is set to speak at the convention on Wednesday and Thursday as the GOP seeks to motivate disengaged voters to cast a ballot in November. Vice President JD Vance is expected to also give a keynote speech Wednesday evening.