Trump dismisses gas prices, cites US oil fortune
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The gist
President Trump told a Georgia rally US oil and gas firms are making "hundreds of billions of dollars" from high oil prices.
He said he does not "give a damn" about criticism as motorists face elevated gasoline costs.
Background
Donald Trump is the President of the United States, who made these remarks at a rally in Georgia. He tied the gains to the Middle East conflict, saying oil buyers are coming to Texas, Oklahoma and Louisiana, and that the throttling of the Strait of Hormuz pushed buyers toward American companies. The remarks came as American motorists continued to face elevated gasoline costs, and Newsweek reported widespread backlash to his comments.
How it unfolded
- Oct 24, 2026At a Georgia rally, Trump said US oil and gas companies are making "hundreds of billions of dollars" from high oil prices tied to the Middle East conflict, with buyers coming to Texas, Oklahoma and Louisiana. He said advisers warned him not to mention it and that he expected gas prices to fall.
- Oct 25, 2026Newsweek reported Trump said he does not "give a damn" about criticism of the remarks as American motorists face elevated gasoline costs.
- Oct 25, 2026Business Insider reported Trump said oil prices are "temporarily high" and that the throttling of the Strait of Hormuz pushed oil buyers to American companies.
Who’s saying what
- Official
- Trump said the country is making "hundreds of billions of dollars" because of the Middle East conflict, that he does not "give a damn" about criticism, and that he expected gas prices to fall.
- Public
- Newsweek reported widespread backlash to Trump's comments as motorists continued to face elevated gasoline costs.