Trump calls high gas prices ‘peanuts’ as fuel costs climb ahead of holiday weekend
President cites stock market highs as gas reaches $4.53 per gallon nationally
(CNN) — President Donald Trump is asking for patience when it comes to high gas prices amid the war with Iran.
On Tuesday, AAA showed a national average of $4.53 for a gallon of gas. The inflated prices are holding as the busy summer driving season is about to kick in.
Trump noted other financial metrics that are performing well in light of rising oil costs.
“We just hit a new high in the stock market. Everything’s going good. I’m sorry, but we have to go down and take a little journey down to, we have to do something with Iran. We cannot let them have a nuclear weapon. You want to see the world exploded? You want to see a problem? And this is peanuts, and I appreciate everybody putting up with it for a little while. It won’t be much longer, but you’re going to have, and frankly, there is so much oil out there,” Trump said.
Both the S&P 500 and Nasdaq Composite reached all-time highs earlier this month.
Also this month, inflation once again started to outpace wage growth. Many polls show Americans are increasingly uncertain about the future and spending less on discretionary purchases.
Copyright 2026 CNN Newsource. All rights reserved.
