Trump’s Iran Stance Could Push Gas Prices to Record Highs, Analyst Says
Benzinga reported Tuesday that a prominent fuel industry analyst is sounding the alarm over President Donald Trump’s dismissive posture toward the economic fallout from the ongoing Iran conflict. The warning comes as pump prices remain elevated and cumulative consumer costs continue climbing.
Analyst Flags $40 Billion Burden on American Drivers
GasBuddy head of petroleum analysis Patrick De Haan posted on X that Americans have collectively paid $40 billion more at the pump since U.S. military action against Iran began on March 1. He described that figure as the cumulative surcharge above pre-conflict baseline prices. De Haan noted the single-day excess cost hit $608 million on May 20, the highest daily figure since hostilities began. The day he posted, drivers added another $488 million to that running total.
De Haan directed specific criticism at Trump’s public tone during ongoing negotiations with Tehran. He warned that projecting indifference to the economic consequences increases the probability of gas prices reaching new all-time highs rather than easing.
Where Prices Stand Now
According to data from the American Automobile Association, the national average for regular gasoline stood at $4.290 per gallon on Tuesday. Diesel averaged $5.432 per gallon, a slight improvement from $5.448 the prior day.
On the crude oil side, West Texas Intermediate futures declined roughly 1.4% to $90.84 per barrel. Brent crude fell a similar margin to $93.68 per barrel. Despite the daily dip in raw crude, the United States Oil Fund ETF gained nearly 5% at Monday’s close, reflecting broader supply uncertainty baked into energy markets.
Political Pressure Builds Around War’s Economic Cost
The criticism is not limited to analysts. California Governor Gavin Newsom publicly blamed Trump for the global energy disruption, arguing that White House decision-making in the Iran conflict has directly translated into higher costs for American consumers.
Senator Elizabeth Warren (D-Mass.) echoed those concerns. She argued that oil executives have profited substantially from the conflict while ordinary Americans absorb hundreds of millions of dollars in daily fuel surcharges.
Background: Oil Markets Since the Iran Conflict Began
When U.S. forces struck Iran in early March, crude prices surged sharply as traders priced in potential supply disruptions from the Gulf region. Prices have remained elevated, though volatile, in the months since. Analysts have consistently noted that diplomatic uncertainty, rather than physical supply loss alone, is a primary driver of sustained price pressure.
With negotiations showing no clear resolution, De Haan’s warning about record pump prices may be less hypothetical than political.
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