Iran War Increases Oil Prices, But Conservatives Trust Trump’s Plan for ‘Record Lows’

Global oil prices are on the rise in response to Operation Epic Fury, the U.S. military’s large-scale operation against Iran.

While the rising energy prices could harm the American economy, conservatives are trusting President Donald Trump’s energy record as the president claims he has a plan to bring costs back down to “record lows.”

The Strait of Hormuz is all but shuttered, as the conflict massively disrupts the narrow stretch of water where most of the world’s oil passes through. Some 700 oil tankers are currently trapped near the straight.

Crude oil prices saw the highest single-day spike since COVID-19 on Friday, jumping nearly 9%, capping off a week of increases. GasBuddy reported the national average was $2.94 per gallon on Wednesday. By Friday, it was $3.19 per gallon.

However, Trump told CNN reporter Dana Bash Friday morning that he has a plan to lower prices and that gas prices will drop to “record lows” again.

White House press secretary Karoline Leavitt also addressed the increasing gas prices this week, Politico reported.

“The United States remains the largest crude oil and natural gas producer in the world,” Leavitt said. “President Trump’s entire energy team, from the White House to the National Energy Dominance Council to Secretaries Wright and Bessent, have a game plan to keep oil prices stable throughout Operation Epic Fury.” 

She also suggested “newfound oil markets in Venezuela” could be utilized to lower energy costs.

In January, a U.S. military operation seized former Venezuelan President Nicolas Maduro, and America is now forcing the new government, led by Maduro’s former Vice President Delcy Rodriguez, to cooperate with American policymakers.

Trusting Trump

Conservatives, however, believe the increase in gas prices is a short-term disruption and that the Trump administration will work to lower gas prices once again.

“While it is true that many Americans may have noticed a recent rise in gas prices, what we are seeing is a short-term market reaction to the conflict overseas,” Rep. August Pfluger, R-Texas, told the Daily Signal. “Anytime there is a disruption in global markets, prices can move quickly before supply adjusts.”

“No one should be surprised that prices have risen,” Heritage Foundation Senior Research Fellow Jack Spencer told the Daily Signal. “However, the United States, thanks to President Trump’s pro-energy polices, is far better off than it would have otherwise been in this situation,” he continued. 

Pfluger claimed that, “President Trump has been clear about his objectives in the Middle East.”

The president, according to Pfluger, is “focused on restoring stability and ensuring the United States leads the world in energy production so prices come back down.”

“I am confident that as those policies take effect, Americans will see relief at the pump,” he concluded.

Not All States Feel an Impact

Some states that encourage American energy dominance, however, have been shielded from increasing prices at the pump.

“North Dakota’s average gas price today is $2.96 a gallon—nearly 30 cents lower than the national average. That’s no accident,” Rep. Julie Fedorchak, R-N.D., told the Daily Signal.  

“North Dakota is an energy-dominant state producing the oil and natural gas America needs. Moments like this highlight why domestic production matters,” continued Fedorchak.  

“President Trump has been clear: the path to lower prices is American energy dominance. The more we produce here at home, in places like North Dakota, the less American families are exposed to geopolitical shocks abroad,” concluded Fedorchak.  

Spencer said the energy dominance ushered in by Trump has been critical “because the American gas and oil industry is in a much better position to respond to market shocks, which may not stop prices from rising but will allow prices to stabilize more quickly over time.” 

Fedorchak also emphasized the importance of “having the right legal, tax, and regulatory climate for energy producers to produce and a stable and predictable permitting process for the infrastructure needed to produce energy and generate power.”

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