On Thursday, March 12, American President Donald Trump stated that preventing Iran from acquiring nuclear weapons is “much more important” to him than concerns about rising oil prices due to the war in the Middle East, reports AFP.
“The United States is by far the largest oil producer in the world, so when oil prices rise, we make a lot of money. BUT, as president, it is much more important to me to prevent a malevolent empire, Iran, from acquiring nuclear weapons and destroying the Middle East and perhaps even the entire world,” the president wrote on his Truth Social platform.
The White House leader added:
“I will never let this happen”.
Triggered on February 28 by American-Israeli attacks against Iran, the war in the Middle East disrupts the global economy’s oil supply and increases pump prices, according to Agerpres.
Prices have increased by 22% since February
In the US, prices have increased by 22% compared to the previous month, averaging $3.60 per gallon (3.78 liters) for basic gasoline, according to the American Automobile Association (AAA), which keeps benchmark statistics.
Even before the recent price hikes, the cost of living was already a major concern for Americans, who will go to the polls for midterm elections this fall.
In a coordinated effort with other countries, the US administration announced on Wednesday that it would release 172 million barrels from its strategic reserves (representing 40% of the volume that had been stored).
However, the measure, intended to limit the rise in energy prices, failed to calm the markets on Thursday. They continued to rise, with investors worried about the prolongation of the conflict.