Within Donald Trump’s inner circle, there is a growing sense of alarm over the potential impact of the ongoing conflict with Iran, fearing it could lead to disastrous results in the upcoming midterm elections. The spike in fuel costs is hitting American consumers hard at gas stations and causing airline ticket prices to climb.
A recent NPR/PBS/Marist poll highlights that 63 percent of Americans hold Trump accountable for the rising gas prices, with over 80 percent noting that the cost at the pump is straining their finances.
The current national average for gasoline, according to AAA, stands at $4.58 per gallon—a steep increase of more than 50 percent from the pre-conflict price of $2.98, adding approximately $20 to each refueling.
There is mounting concern among Trump’s advisors that the Republican party could suffer significant losses in the November elections if the situation does not improve. They are keen to see the conflict resolved before it has further detrimental effects on the midterms, insiders revealed to the Wall Street Journal.
Former Governor Chris Sununu, who has become a prominent critic of Trump and now represents major airline interests, recently cautioned Treasury Secretary Scott Bessent in Washington. He warned that the cost of air travel could escalate even further if the conflict with Iran persists.
Sununu, now serving as the president of Airlines for America, indicated that Trump’s administration is well aware of the potential consequences.
‘They get it … and I think that’s why they’re trying to get through the war as fast as they can,’ Sununu told the Journal.
Trump told reporters this week the price of oil is ‘a very small price to pay for getting rid of a nuclear weapon from people that are really mentally deranged.’
Donald Trump looks on during an event in the Oval Office of the White House on May 6 and a man fills up in the Dallas suburb of Richardson, Texas, Wednesday, May 6
Smoke rises following Israeli bombardment in southern Lebanon as seen from a position across the border in the Upper Galilee in northern Israel on May 7. The Iran war has sparked a separate conflict on Israel’s border with Lebanon against the Hezbollah terror group
The President has insisted prices will fall before November, even slapping down Energy Secretary Chris Wright last month as ‘totally wrong’ after Wright admitted relief at the pump may not come until 2027.
The war has already claimed its first airline casualty, with Spirit collapsing into liquidation on Saturday after jet fuel prices roughly doubled in the opening weeks of the conflict and the Trump administration walked away from a $500 million bailout.
US airlines spent more than $5 billion on fuel in March, 30 percent more than last year, according to government data.
Carriers are hiking prices as profit margins get squeezed, piling misery on families preparing for spring break and summer vacations.
The average domestic round-trip economy ticket jumped 21 percent in March from a year earlier to $570, according to the Airlines Reporting Corp.
Oil prices whipsawed on Thursday as the US awaits Iran’s response to a proposed peace deal to end the war and reopen the Strait of Hormuz.
Brent crude initially tumbled below $97 a barrel before snapping back above $101 after a senior Iranian official dismissed Washington’s plan as ‘unrealistic,’ leaving the global benchmark roughly 70 percent above its prewar level of around $60.
Jet fuel is faring even worse, with the Singapore global benchmark trading at around $200 per barrel, more than double the $83 average over the same period last year.
New Hampshire Gov. Chris Sununu speaks at the Republican Jewish Coalition annual leadership meeting on November 19, 2022 in Las Vegas, Nevada
But Sununu warned that even if the Strait of Hormuz suddenly reopened, ‘ticket prices won’t go down immediately.’
‘You’re looking at elevated ticket prices through the summer and fall because it takes a while for the prices to go down,’ he told the Journal.
White House spokesman Kush Desai told the Daily Mail: ‘President Trump has always been clear about temporary disruptions as a result of Operation Epic Fury.
‘The administration has never, however, lost focus on delivering on the President’s affordability agenda here at home.
‘The March CPI inflation report showing month-over-month price declines for eggs, beef, dairy, prescription drugs, and other household essentials reflect how the administration’s policies continue to deliver.
‘As traffic in the Strait of Hormuz begins to normalize again, the administration will continue pushing our affordability agenda to enable Americans to keep more of their hard-earned money.’
