White House says gas prices will ‘plummet’ after Iran war despite surge

Fuel prices reach their highest since 2022 as administration banks on post-conflict relief

PUBLISHED 1 HOUR AGO

White House press secretary Karoline Leavitt speaks with reporters in the James Brady Press Briefing Room at the White House, Monday, March 30, 2026, in Washington (AP Photo/Alex Brandon)

WASHINGTON, DC: The White House on Tuesday, March 31, sought to play down rising fuel costs as average gasoline prices across the United States climbed to $4.02 per gallon for the first time since 2022, driven by the ongoing conflict involving Iran.

According to the American Automobile Association, prices have surged by more than a dollar per gallon in just a month, reflecting the global ripple effects of escalating tensions in the oil-rich region.

White House predicts sharp reversal

White House press secretary Karoline Leavitt said the spike in fuel costs would be temporary, linking it directly to disruptions caused by the war.

“When Operation Epic Fury is complete, gas prices will plummet back to the multi-year lows American drivers enjoyed before these short-term disruptions,” she said in a statement.

Leavitt added that the administration remains committed to expanding domestic energy production and lowering costs for consumers, emphasizing a return to what she described as “American energy dominance.”

JOINT BASE ANDREWS, MARYLAND - FEBRUARY 19: U.S. President Donald Trump talks to reporters on board Air Force One on February 19, 2026 at Joint Base Andrews, Maryland. Trump is flying to Georgia to visit a steel company and speak on the economy. (Photo by Chip Somodevilla/Getty Images) — Trump talks to reporters on board Air Force One on February 19, 2026, at Joint Base Andrews, Maryland. Trump is flying to Georgia to visit a steel company and speak on the economy (Chip Somodevilla/Getty Images)

Trump’s energy promise under pressure

President Donald Trump, who campaigned heavily on reducing energy costs, now faces mounting pressure as prices at the pump rise sharply.

Throughout his campaign, Trump frequently criticized his predecessor Joe Biden over high fuel prices, making affordability a central economic issue.

With midterm elections looming in November, administration officials view stabilizing energy costs as a critical political and economic priority.

Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri) — Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026 (AP Photo/Altaf Qadri)

Strait of Hormuz at center of crisis

The surge in prices is closely tied to instability around the Strait of Hormuz, a vital corridor through which a significant share of the world’s oil supply passes.

Following joint US and Israeli strikes, Iran has moved to disrupt tanker traffic through the narrow waterway, tightening global supply and pushing prices higher.

Trump has urged allied nations to help secure the strait, framing it as a shared responsibility to ensure energy flows.

Flames and smoke rise from an oil storage facility struck as attacks hit the city during the U.S.–Israeli military campaign in Tehran, Iran, late Saturday, March 7, 2026. (Alireza Sotakbar/ISNA via AP) — Flames and smoke rise from an oil storage facility struck as attacks hit the city during the US–Israeli military campaign in Tehran, Iran, late Saturday, March 7, 2026 (Alireza Sotakbar/ISNA via AP)

Diesel, crude prices also surge

The price shock extends beyond gasoline. Diesel, critical for transportation, agriculture, and public transit, has climbed to $5.45 per gallon, marking a sharp year-on-year increase.

Underlying the surge is a steep rise in global crude prices. West Texas Intermediate crude has jumped more than 50% since the conflict began in late February, while Brent crude has risen nearly 60%.