Iran war fuels US inflation fears

Rising fuel prices linked to the Iran conflict are creating political pressure on US President Donald Trump and Republicans before the midterm elections. Democrats blamed the administration for economic pain, while Republicans defended the White House, saying the impact would be temporary

Washington: Rising fuel prices and growing economic anxiety linked to the Iran conflict are beginning to create political problems for President Donald Trump and Republicans ahead of the US midterm elections, according to media.

Senior administration officials and Republican allies defended Trump’s handling of the Iran crisis, while Democrats accused the White House of triggering economic pain through a prolonged conflict in the Gulf region.

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US Trade Representative Jamieson Greer acknowledged on CBS News on Sunday that that Americans were facing rising fuel costs as the war continued.

“Gas is at an average of $4.51 a gallon,” CBS News said during the interview, citing data showing Americans had spent $45 billion more on fuel since the conflict began compared to a year earlier.

Greer defended the administration’s position by saying that preventing Iran from acquiring nuclear weapons remained the White House’s top priority.

“We know that no one wants to see higher gas prices,” he said.

“At the same time, the President is balancing foreign policy considerations.”

He added: “We don’t want our children or grandchildren to inherit a world where Iran has a nuclear weapon.”

The economic impact of the conflict also was discussion on CNN where former Transportation Secretary Pete Buttigieg blamed the Trump administration for rising costs across the American economy.

“Buttigieg said the administration’s actions had caused ‘everything from diesel to fertiliser to mortgages’ to become more expensive.”

He also accused the administration of making ordinary travel unaffordable.

“More and more Americans cannot afford a road trip, because of the explosion in diesel prices and gas prices caused directly by the Iran war,” Buttigieg said.

On ABC News, Trump himself defended his focus on Iran’s nuclear programme even as fuel prices rose.

“I don’t think about Americans’ financial situation,” Trump said during remarks highlighted by the programme.

“I think about one thing, we cannot let Iran have a nuclear weapon.”

The comments quickly became a point of attack for the Democrats.

Representative Hakeem Jeffries accused Trump of dragging the country into a “reckless and costly war of choice” during ABC’s coverage of the President Trump’s China summit.

On CNN, Democratic Congressman Jake Auchincloss said Americans were directly linking higher prices to Trump’s foreign policy.

“Prices go up,” Auchincloss said, referring to both the China trade conflict and the Iran war.

Republicans pushed back, insisting the economic pain would be temporary.

Former White House Press Secretary Sean Spicer said on CNN that Americans understood the broader national security stakes.

“There’s a bigger existential threat that Iran poses to our safety,” Spicer added.

Republican Congressman Buddy Carter predicted fuel prices would eventually fall once the conflict stabilised.

“As soon as this conflict is over, I can assure you gas prices are going to go down,” Carter said.

The Strait of Hormuz, through which a large portion of the world’s oil shipments pass, remains central to global concerns over energy markets and inflation.

Rising oil prices and prolonged instability in the region could place additional pressure on inflation, shipping costs and economic growth across energy-dependent economies, including India.