Washington: US President Donald Trump has urged Americans to accept higher gasoline prices as the conflict with Iran continues, saying that increased fuel costs are a price worth paying to prevent Tehran from developing a nuclear weapon. His comments came as tensions around the Strait of Hormuz continued to grow, with shipping through the important waterway remaining severely disrupted and hopes for a quick peace agreement fading.
Speaking at a political rally in New York, Trump said Americans might have to pay more at the pump while the United States continues its campaign against Iran. He argued that protecting the United States and preventing Iran from obtaining a nuclear weapon were more important than keeping gasoline prices low.
The comments come at a difficult time for American consumers. Gasoline prices have risen sharply since the conflict began, increasing pressure on households and businesses. The rise in fuel costs is also affecting transportation and other parts of the economy because oil is used across a wide range of industries.
The main source of concern is the Strait of Hormuz, a narrow waterway between Iran and Oman through which a large share of the world's oil and liquefied natural gas normally passes. The conflict has dramatically reduced shipping through the strait, leaving energy markets worried about possible shortages and further price increases.
Iran has remained defiant and says it controls the waterway. Iranian officials have rejected Trump's demands and said the strait will not return to normal operation simply because Washington wants it to. Tehran has linked the reopening of the waterway to wider demands, including an end to US military pressure and sanctions.
The situation became even more dangerous after several commercial vessels came under attack while travelling through the region. Two tankers operated by the United Arab Emirates state energy company were attacked by drones while passing through the Strait of Hormuz. The UAE blamed Iran for the attacks and described them as a serious threat to maritime security.
Another vessel linked to the same company was later reported to have come under attack while travelling through the strait. No injuries were reported, but the incidents have increased concerns among shipping companies about the safety of sending tankers through the area.
The attacks are having an impact far beyond the ships directly involved. Insurance costs for vessels operating in the region have increased, while shipping companies face difficult decisions about whether to risk sending their vessels through the waterway. Some ships have remained outside the strait or delayed their journeys, adding to pressure on global energy supplies.
Oil prices have responded to the worsening situation. Crude prices rose during the latest trading session as investors assessed the possibility of a prolonged disruption. Markets remain highly sensitive to every development because the Strait of Hormuz is one of the world's most important energy routes.
The conflict is also creating a political challenge for Trump at home. The president has repeatedly promised Americans lower energy costs, but the continuing confrontation with Iran has pushed gasoline prices higher. Democrats are increasingly pointing to fuel prices as evidence that the war is creating an economic burden for American families.
Trump, however, has continued to defend his approach. He has argued that accepting higher fuel prices is necessary if it helps prevent Iran from obtaining a nuclear weapon and forces Tehran to change its position.
The Iranian economy is also under growing pressure. Restrictions on oil exports, international sanctions and the disruption of normal trade have increased economic difficulties inside the country. Inflation and shortages have added to the pressure on Iranian authorities.
Despite these problems, Iran appears determined to use the Strait of Hormuz as leverage in its confrontation with Washington. Tehran believes that restricting the waterway places pressure not only on the United States but also on countries around the world that depend on Gulf energy supplies.
The latest developments suggest that the conflict has become about more than Iran's nuclear program. Control of the Strait of Hormuz, oil exports, sanctions, military pressure and the future relationship between Washington and Tehran are now closely connected.
There are also growing concerns about the wider regional consequences. Continued attacks on ships could encourage other armed groups linked to Iran to increase their own military activity. Violence has already been reported in other parts of the Middle East, raising fears that the conflict could spread further.
The economic consequences could also become more serious if the disruption continues. Higher oil prices can increase the cost of transportation, electricity, manufacturing and food. Countries that depend heavily on imported fuel could face particularly difficult conditions if the crisis lasts for months.
For now, there is little indication that the dispute is close to a lasting settlement. Iran continues to demand major changes in US policy, while Washington is maintaining pressure on Tehran and demanding the restoration of safe shipping through the Strait of Hormuz.
The immediate question is whether both sides can find a way to reopen the waterway and reduce the risk to commercial shipping. If an agreement is reached, oil prices could fall as fears of a prolonged supply disruption ease. If talks fail and attacks on vessels continue, energy prices could rise further.
For American families, the effects are already visible at gasoline stations. For the global economy, the bigger concern is whether the disruption in one of the world's most important energy corridors becomes a long term crisis.
As the confrontation continues, the pressure is increasing on both Washington and Tehran to decide how much economic and political pain they are prepared to accept before choosing a path toward de escalation.