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Crude Sentiment: Trump Boasts About High Oil Prices

by Sandra Rhodes
March 12, 2026 at 11:43 am
in News
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Crude Sentiment: Trump Boasts About High Oil Prices

NEW YORK, NEW YORK - MARCH 12: Stock market numbers are displayed as traders work on the floor of the New York Stock Exchange during morning trading on March 12, 2026 in New York City. Stocks continue to tumble, with the Dow Jones opening down over 500 points, as oil prices rise due to the war in Iran and the new Supreme Leader, Mojtaba Khamenei, stating that the Strait of Hormuz should remain closed. (Photo by Michael M. Santiago/Getty Images)

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While most cringe when the see the price of oil going up, the same can’t be said of President Donald Trump.

“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump posted on Truth Social.

Trump then wrote about being the strong arm against evil.

“BUT, of far greater interest and importance to me, as President, is stoping [sic] an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World. I won’t ever let that happen!” Trump wrote.

AAA reported this week that the current average national gas price was $3.60, up more than 60 cents in a month. Oil prices topped $100 a barrel Monday before fluctuating the rest of the week.

Trump’s Secretary of Energy Chris Wright Thursday morning would not rule out oil hitting $200 a barrel as Operation Epic Fury continues and intensifies.

CNN anchor Kate Bolduan asked Wright about gas prices.

Do you agree with Trump's view that high oil prices benefit the U.S. economy?

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“Gas prices are going up, jet fuel prices are jumping, and CEOs are saying that ticket prices are also going to go up,” Bolduan asked. “Iran just said that the world should be ready for oil at $200 a barrel. You don’t agree with Iran on anything, but do you agree the people need to be prepared for that?”

“We’re going through short-term energy disruption for just huge long-term gain. You’re seeing Iran’s behavior. They’re attacking every country in the region,” Wright responded.

A statement from Iran’s new Supreme Leader Mojtaba Khamenei was released Thursday and claimed the Strait of Hormuz, “a key shipping route for a fifth of the world’s oil supply, should remain closed,” NPR reported.

On Wednesday, Trump claimed at a rally in Kentucky the war was all but over.

“Doesn’t mean we’re going to end it immediately, but they are– they’ve got no Navy, they’ve got no air force, they’ve got no anti-air traffic anything,” Trump said. “They have no systems of control. We’re just riding free-range over that country.”

“And now we’re gonna look very strongly at the straits. The straits are in great shape. We’ve knocked out all of their boats. They have some missiles, but not very many. I think we’re in very good – we’re in very good shape,” Trump added.

Tags: Donald TrumpOil PricesOperation Epic FurypoliticsU.S. News
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Sandra Rhodes

Sandra Rhodes

IJR, Contributor Writer She was a Story Editor for Indpendent Journal Review since November 2022 and has written for IJR since February 2024. She has been in the newspaper business in various capacities since 1998.

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