Trump Forecasts Significant Drop in Gas Prices Once Iran War Ends

‘I think they'll be much lower. Before midterms? Much lower,’ the president says.

Fuel prices are displayed on a sign as customers fill their vehicles at a gas station in Miami, Florida, on April 13, 2026. Joe Raedle/Getty Images

President Donald Trump has forecasted that gasoline prices will drop “tremendously” when the war in Iran ends, coming two days after his energy secretary said that oil prices would continue to go up in the coming weeks.

Trump told Fox Business in an interview that aired on Wednesday that “gasoline is coming down very soon, and very big” while stipulating that it will occur before the 2026 midterm elections.