Trump expresses optimism about lower fuel prices as US-Iran move closer to potential deal on Strait of Hormuz
Washington, DC, August 8
US President Donald Trump expressed optimism that fuel prices could decline as negotiations between the United States and Iran over the Strait of Hormuz move closer to a potential agreement.
According to Fox News, Trump said progress in the talks could help stabilise one of the world's most critical maritime trade routes for oil shipments, raising hopes of lower gasoline prices if the negotiations are successfully concluded.
President Trump made the remarks speaking to reporters at the Oval Office on Thursday (local time), also voicing confidence that the conflict involving Iran would end "pretty soon," saying he did not believe the Islamic Republic could sustain the confrontation much longer. He reiterated that the United States remains committed to ensuring Iran does not acquire a nuclear weapon.
"I think we're doing very well. I am involved in the negotiations. I think we are doing fine... it could be soon," Trump said, expressing optimism about the ongoing diplomatic efforts.
"When I started the very important excursion into the Islamic Republic of Iran, it was a very important excursion because they can't have a nuclear weapon, otherwise the whole world would get blown up. We're not gonna let that happen," Trump said.
On the negotiations concerning the Strait of Hormuz, Trump noted that while security concerns remain, discussions are progressing.
"I don't want to say it has been... it's sort of open right now. We have a thing called the blockade headed up by the US Navy, and we control it. But they can always shoot something or drop a mine... if you have one mine sitting out there, you sort of mess things up because people don't want to take their billion-dollar boats and accidentally get hit by a mine," he said.
The Strait of Hormuz remains one of the world's most strategically important waterways, serving as a key transit route for global crude oil exports.
— ANI
Reader Comments
As a common Indian citizen, I just want petrol prices to come down. The other day I paid ₹110 per litre and I almost fell over. If Trump can get Iran to calm down, good for him, but honestly, I'm tired of geopolitical drama affecting our daily budgets.
Trump says Iran "can't have a nuclear weapon" - absolutely right. India has always supported a peaceful resolution here. But the US needs to be consistent with its negotiating strategy, else it's just more empty promises for oil markets.
If the US and Iran actually reach a deal, it would be a game-changer for global oil prices. As someone who lives in India, we suffer from every disruption in the Gulf. Let's hope the negotiations are genuine and not just election-year talk from Trump.
Strait of Hormuz stability is vital for India's energy security. Honestly, I'm skeptical of Trump's optimism - he talks big but often fails to deliver. I hope for the sake of our economy that this time it's different. Oil at $60 a barrel would be a blessing! 🤞
It's ironic that Trump's so-called "excursion" into Iran has caused so much instability, and now he's taking credit for fixing what he broke. Still, if this means cheaper fuel for us in India, I'll take it - just wish the whole approach was more diplomatic and less about ego.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.