Trump says gas prices could stay high through November midterm elections:
U.S. President Donald Trump said oil and gasoline prices could stay elevated through November’s midterm elections, acknowledging potential political fallout from his decision to strike Iran six weeks earlier.
"It could be, or the same, or maybe a little bit higher, but it should be around the same," Trump, who is in Miami for the weekend, told Fox News' "Sunday Morning Futures With Maria Bartiromo" when asked whether the cost of oil and gas would be lower by the fall.
The average price for regular gas at U.S. service stations has exceeded $4 per gallon for most of April, according to data from GasBuddy. Average U.S. gas prices in February hovered just below $3 per gallon, and over the past year never exceeded $3.25 per gallon, according to GasBuddy.
Earlier on Sunday, Trump announced on social media that the U.S. Navy would blockade the Strait of Hormuz and intercept any ship that paid a crossing fee to Iran, after marathon talks between the U.S. and Iran in Pakistan over the weekend did not yield a peace deal.
Several hours after Trump's post, U.S. Central Command said the blockade would be limited to ships going to and from Iranian ports. Ships entering and exiting non-Iranian ports will not be stopped by U.S. forces, CENTCOM said.
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