Trump predicts oil prices to fall post-Iran war

President Donald Trump predicted a sharp drop in oil and gasoline prices, forecasting they could fall to $3 per gallon and eventually below $2, once the United States achieves victory in its conflict with Iran. Trump made the remarks in a post on Truth Social on Monday night, September 7, 2026, linking current high energy costs directly to ongoing military operations in the Middle East. He also reiterated Washington's position that Iran must not be allowed to develop nuclear weapons. The conflict, which began on February 28, 2026, with joint U.S. and Israeli airstrikes, has contributed to elevated energy costs. The average price of gasoline in the U.S. is currently above $4 per gallon, with diesel nearing $6, presenting a significant political challenge ahead of the November midterm elections. Trump's assertion of impending price drops came as renewed Houthi attacks on Saudi Arabia exposed ongoing regional instability. The Saudi-led coalition reported that Houthi attacks struck civilian and economic facilities in southern Saudi Arabia, wounding 73 people. Fires broke out at several oil facilities and utilities, temporarily suspending operations.