Back to today’s briefing

Story perspectives

Trump Dismisses Rising Gas Prices Amid Iran Conflict

3/6/2026

45 8 Full Breakdown

Summary

Story summary

U.S. President Donald Trump downplayed concerns about rising gas prices amid conflict with Iran, saying, "I don't have any concern about it."
The national average gas price rose to $3.25 per gallon, up 27 cents from last week.
White House energy advisers say the initial market shock is less severe than expected.
Plans to address rising prices include U.S.-backed insurance for oil tankers and naval escorts, though options remain limited.

History

Historical Context

The 1973 oil crisis emerged from geopolitical tensions during the Yom Kippur War, when the Organization of Arab Petroleum Exporting Countries (OAPEC) imposed an embargo on nations supporting Israel. This led to a 400% increase in oil prices, severely impacting economies worldwide. Today’s rising gas prices, averaging $3.25 per gallon, reflect ongoing vulnerabilities in energy markets linked to similar geopolitical conflicts.

1 of 2

Story summary

U.S. President Donald Trump downplayed concerns about rising gas prices amid conflict with Iran, saying, "I don't have any concern about it."
The national average gas price rose to $3.25 per gallon, up 27 cents from last week.
White House energy advisers say the initial market shock is less severe than expected.
Plans to address rising prices include U.S.-backed insurance for oil tankers and naval escorts, though options remain limited.

1 / 2