President Trump stated on Monday that oil prices will drop significantly once the war with Iran is won. The declaration arrives as Americans face record-high fuel costs, with the national average for gas hitting 4.15 dollars per gallon on Labor Day, as reported by The Hill. This surpasses the previous record of 3.82 dollars per gallon established in 2012. Diesel prices also reached a new high on Friday, climbing to an average of 5.85 dollars per gallon. The current energy market struggles because Tehran has closed the Strait of Hormuz. This action has blocked one-fifth of the global oil supply from leaving the Middle East, leading to a surge in prices that has persisted for more than six months. The situation remains tense as Iranian officials indicated on Sunday that a new restricted zone will be declared in the coming days. According to the Iranian state media outlet Press TV, commercial vessels that enter this zone and fail to cooperate with the government will be added to a sanctions list. Regarding the future of these costs, the President shared his expectations on Truth Social “Oil prices will drop precipitously, like everything else is dropping (but more!), when we WIN the war with Iran,” Trump wrote. “Three Dollars a gallon, but ultimately, below Two Dollars a gallon. It will all happen quickly, and Iran will never have a Nuclear Weapon.” This outlook contrasts with the more cautious approach taken by some members of the administration. Energy Secretary Chris Wright appeared on Sunday to discuss the energy sector. When asked if gas prices would continue to rise, he told Dana Bash that he did not “want to have an opinion” on the matter. Wright did mention that he believes it is more likely for prices to decrease rather than increase. The path toward a resolution remains uncertain. The Energy Department chief has downplayed the possibility of the United States and Iran reaching a nuclear agreement that would conclude the conflict. While both nations previously entered into an interim deal in June intended to reopen the strait, that agreement failed as strikes resumed. Wright also suggested to Martha Raddatz that a nuclear agreement with the Iranian regime “may await a next administration.” The President has maintained a consistent stance regarding the economic consequences of the conflict. He has characterized the high prices as a “small price to pay” to ensure the end of Iran’s nuclear program, which was a primary goal when strikes against the regime began in February. Despite the impact of the war on the cost of living and inflation, the President noted in May that the financial situation of Americans does not motivate him to reach a deal. He also addressed the political implications of the conflict for Republican candidates ahead of the November midterm elections. Last week, he stated that the GOP “respects the fact that we’re not allowing Iran to have a nuclear weapon.”