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White House Press Secretary Karoline Leavitt told Americans on Tuesday that oil and gas prices would soon come back down, and President Donald Trump\u2019s massive military operation in Iran would result in lower gas prices in the \u201clong-term.\u201d<\/p>\n
During a White House press briefing, Leavitt urged Americans to stay patient after gas prices rose to their highest national average in four years. Leavitt said oil and gas prices could drop \u201crapidly\u201d after the U.S. military achieves its objectives in \u201cOperation Epic Fury.\u201d<\/p>\n
\u201cThe recent increase in oil and gas prices is temporary,\u201d she said. \u201cAnd this operation will result in lower gas prices in the long-term.\u201d<\/p>\n
\nNEW: @PressSec<\/a>: \u201cRest assured to the American people: the recent increase in oil and gas prices is temporary.\u201d pic.twitter.com\/KeF8ele6HE<\/a><\/p>\n
\u2014 Kassy Akiva (@KassyAkiva) March 10, 2026<\/a><\/p>\n<\/blockquote>\n
Brent crude, the international benchmark price point for oil, skyrocketed to nearly $120 per barrel earlier this week, but then plummeted to under $90 after President Trump said on Monday that the war in Iran was \u201cvery far ahead of schedule.\u201d As of Tuesday afternoon, Brent crude remained just below $90 per barrel, which is still much higher than before the United States and Israel began their joint operation targeting Iran on February 28.<\/p>\n
The ongoing war in Iran has squeezed oil flow coming through the Strait of Hormuz, which sits between Iran and the United Arab Emirates and is the only passage for tankers leaving the Persian Gulf. Around 20% of the world\u2019s oil is transported through the Strait of Hormuz, but that oil flow came to a near complete halt last week. As of Monday, oil tankers again began traversing the strait, with oil tanker traffic ticking up to 20% of its normal level, according to analysis from Goldman Sachs.<\/p>\n
Trump has floated taking control of the strait. The White House is also considering using U.S. ships to escort oil tankers.<\/p>\n
\u201cThat\u2019s an option the president has said he will absolutely utilize if and when necessary at the appropriate time,\u201d Leavitt said on Tuesday.<\/p>\n
The president warned Iran on Monday, saying, \u201cIf Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.\u201d<\/p>\n
U.S. intelligence suggests that Iran could be preparing to drop mines in the Strait of Hormuz, CBS News reported<\/a>. Such a move could further threaten oil tanker traffic and stall oil flow to the world. If tankers are prevented from passing through the Strait of Hormuz for more than two weeks, oil could reach $150 per barrel, some experts warned, according to the Associated Press. Saudi Arabia\u2019s state-run oil company also warned of \u201ccatastrophic consequences\u201d for global oil markets if the important shipping lane does not reopen soon.<\/p>\n<\/div>\n