Trump predicts oil prices to drop sharply after US victory

September 08, 2026 (MLN): President Donald Trump said oil prices would drop sharply once the United States secures victory in its conflict with Iran, predicting gasoline could eventually fall below $2 a gallon.

In a post on his Truth Social platform, Trump linked elevated energy costs to the ongoing military confrontation in the Middle East, arguing that prices would ease quickly once the conflict concludes.

He said prices would first settle near $3 a gallon before ultimately dropping below $2, adding that the decline would "all happen quickly."

Trump also reiterated that Iran would not be permitted to acquire a nuclear weapon, saying developments on that front would unfold rapidly as well.

The remarks come as crude oil markets remain volatile amid the US-Iran conflict, with global benchmark prices having risen sharply in recent sessions on fears of supply disruptions through the Strait of Hormuz, a key corridor for Gulf oil exports.

Brent and WTI crude have both traded near multi-week highs as the standoff between Washington and Tehran continues to escalate.

Any sustained rally or reversal in international crude prices carries direct implications for Pakistan, which relies heavily on imported oil, with movements typically feeding through to domestic fuel pricing and the country's import bill.

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