The president attributed the drop in prices to the agreement with Iran, while the energy market remains attentive to tensions in Hormuz
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The President of the United States, Donald Trump, assured this Monday that oil and gasoline prices continue to decline as a result of the provisional agreement reached between Washington and the Iranian regime to reduce hostilities, while defending his administration's strategy of combining military pressure and negotiations to limit Tehran's nuclear program.
Through his social network Truth Social, Trump celebrated the evolution of energy markets and stated that the decrease in prices represents a positive signal for American consumers.
''Gas prices are dropping rapidly!'', the president wrote in one of his posts, in which he also urged reporting possible abuses by gas stations that could be engaging in price gouging. The administration had already indicated that the Department of Justice is conducting investigations into alleged cases of speculation in the retail fuel sector.
In a second message, Trump stated that the price of West Texas Intermediate (WTI) crude, a benchmark for the U.S. market, had fallen to 69 dollars per barrel and highlighted that this figure was lower than that recorded before the start of the campaign aimed, according to the White House, at achieving Iran's denuclearization.
U.S. President Donald Trump highlighted the drop in oil prices following the signing of a provisional pact with the Iranian regime
Although during Monday's trading, WTI briefly traded above 70 dollars per barrel and Brent hovered around 73 dollars, both indicators remained well below the levels recorded during the weeks of highest military tension in the Middle East.
The conflict caused significant volatility in international markets after U.S. and Israeli forces launched attacks against Iranian military targets and Tehran responded by attempting to restrict traffic through the Strait of Hormuz.
During that period, the price of WTI exceeded 110 dollars per barrel and remained above 100 dollars for several days, raising concerns about the impact that a prolonged conflict could have on inflation and energy costs worldwide.
The increase in oil prices also affected the United States. According to data from ''GasBuddy'', the average price of regular gasoline surpassed 4.50 dollars per gallon in mid-May, impacting both consumers and businesses.
During the peak of military tension, the price of oil exceeded 110 dollars per barrel
However, the most recent figures show a downward trend. According to the American Automobile Association (AAA), the national average price of regular gasoline was approximately 3.86 dollars per gallon on June 29, a considerable reduction from the 4.39 dollars recorded a month earlier.
From the White House, they maintain that the memorandum of understanding signed with Iran has helped reduce uncertainty in international energy markets. The agreement seeks to end recent confrontations and move towards new negotiations on the Iranian nuclear program, although differences remain between both parties regarding control and security in the Strait of Hormuz.
Despite the signing of the understanding, the situation remains fragile. Over the weekend, new incidents were reported after Iran launched attacks against a vessel transiting the strait and against targets located in Bahrain and Kuwait.
In response, U.S. forces conducted attacks against Iranian military positions before a Washington official confirmed on Sunday night that new military operations had been canceled to avoid further escalation.
In recent days, the terrorist regime of Iran has launched repeated attacks against countries in the Middle East
The Trump administration argues that its strategy of exerting pressure on Tehran while keeping diplomatic channels open aims to prevent Iran from developing nuclear weapons without compromising global economic stability.
Although negotiations continue and tensions persist in the region, the recent evolution of energy markets has been presented by the White House as a sign that the reduction of hostilities is beginning to reflect in international oil prices and, progressively, in the cost of gasoline for American consumers.
