Washington DC: US President Donald Trump predicted a steep fall in oil prices once the United States emerges victorious from its conflict with Iran, saying gasoline prices could eventually drop below $2 a gallon.
Trump tied energy prices to the ongoing conflict in the Middle East in a post on Truth Social, arguing that markets would stabilize quickly after the war ends.
“Oil prices will drop precipitously,” Trump said, adding that gasoline could fall to around $3 a gallon before eventually dropping below $2.
Trump also repeated his warning that Iran would not be allowed to develop a nuclear weapon, saying the conflict would be resolved quickly.
The comments came as tensions between Washington and Tehran continued to escalate, with both sides issuing warnings over attacks on energy infrastructure and oil assets.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Monday warned the United States against targeting Iranian energy facilities, saying such a move would trigger retaliation.
In a post on X, Ghalibaf said Iran’s oil and gas infrastructure is spread across a wide area but remains vulnerable to attacks. He warned that US energy interests in the region could also be exposed to retaliation.
“Strike our assets, and you get struck,” Ghalibaf said, claiming Iran had already demonstrated its ability to target US military positions.
Ghalibaf made the comments while resharing a post by US Secretary of War Pete Hegseth, who warned that Iran’s oil tanker fleet could be targeted if Tehran attacks US naval forces.
Hegseth said US forces would destroy Iranian oil tankers if Iran fired on American ships, arguing that Iran lacked the naval and air capabilities to protect its tanker fleet.
The US Central Command also released footage showing strikes on three Iranian crude oil tankers. CENTCOM said the vessels were linked to a multibillion-dollar “shadow network” that helps finance Iran’s Islamic Revolutionary Guard Corps and its regional allies.
Adm. Brad Cooper, the CENTCOM commander, said Washington would respond to attacks on US forces by imposing additional economic costs on Iran.
“If you shoot at two of our ships, we will impose an even higher economic cost — taking out three of yours,” Cooper said.
He added that US forces would defend American personnel and could target Iran’s “limited and exposed” oil fleet if necessary.
The exchange of threats has placed Iran’s energy infrastructure and oil exports at the center of the widening confrontation, raising concerns over potential disruptions to global energy markets.
Trump, however, maintained that oil and gasoline prices would eventually fall sharply once the conflict is over, presenting lower energy costs as one of the economic consequences of what he described as a US victory over Iran.
