Global Edition
Global Edition
UK Edition
EU Edition
US Edition

Understand the story, not the spin.

Markets

Trump urges acceptance of higher gas prices for Iran goal

Published 15 August 2026

President Donald Trump on August 14 urged Americans to accept rising gasoline prices as a necessary cost of restraining Iran's nuclear ambitions, a message delivered as a blockade of the Strait of Hormuz continues to disrupt global oil supplies. Speaking at a rally in Garden City, New York, Trump characterized the economic toll as a "small sacrifice" to confront what he described as "a very evil country," stating he would not apologize for the impact on consumers.

The appeal comes as U.S. average gasoline prices have climbed to approximately $4.08 per gallon, marking a roughly 29 percent increase compared to the same period last year. This surge is directly linked to the ongoing conflict with Iran, which has centered on the Strait of Hormuz, a narrow waterway through which about one-fifth of the world's oil typically flows. Effective control of the strait by Iran has choked crude shipments; on August 14, only two vessels transited the waterway, and neither was carrying oil.

Beyond the immediate pain at the pump, Trump made a fresh geopolitical claim, saying the United States would take control of the strategic waterway after defeating Iran. "I will be declaring Hormuz a US...

Now playing
0:00 / 0:00