Gas prices climb as Trump says ceasefire with Iran is ‘OVER’
July 10, 2026 at 2:00 PM
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A sign shows the price of gas at a store in Maine in March AP
Gas prices are once again climbing as President Donald Trump’s ceasefire with Iran has fallen apart .
This week, the United States carried out some of its heaviest strikes since Trump launched this terrible war of choice in February.
“The Islamic Republic of Iran has asked us to continue ‘talks.’
We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!”
Trump wrote Friday in a post on Truth Social.
Ultimately, the average price of a gallon of gas in the United States is now $3.88, according to AAA.
That’s 6 cents higher than a week ago and a whopping 71 cents more than the same point last year.
That breaks an eight-week streak of gas prices decreasing, according to Patrick De Haan, a fuel price expert with GasBuddy.
A group of people stands in shallow water as a cargo ship appears anchored in the Strait of Hormuz off Bandar Abbas, Iran, on June 30.
AP
The rise comes as the war in Ukraine, which Trump said he would end on the first day of his second term , has impacted refineries in Russia , thus lowering oil supplies and raising the cost of the critical commodity.
But it also comes as Iran launched renewed strikes in the Strait of Hormuz, once again stalling the flow of oil through the waterway.
According to The New York Times, just 22 ships passed through the strait on Thursday—down from roughly 130 daily ships before Trump launched a war in Iran.
“Things are becoming uglier by the minute,” Harry Vafias, CEO of StealthGas, told The New York Times, adding that his company will not move another ship through the strait until the situation is more calm.
And that’s leading to more pain at the pump.
“When people think about the Strait of Hormuz, they think oil tankers.
But the Strait is also a superhighway for refined products,” De Haan wrote in a post on X.
“Some of the world’s largest, newest export refineries sit in the Persian Gulf, and their gasoline, diesel and jet fuel have to move through the same chokepoint as crude.
With flows through the Strait restrained again amid renewed tensions, those finished fuels are effectively stuck, removing yet another slug of refining capacity from the global market on top of what’s been lost in Russia.”
Rising gas prices and a renewed focus on the unpopular war in Iran is the exact opposite of what Republicans wanted to see as the midterm elections draw near.
When gas prices rise, so do the prices of other goods and services dependent on the transportation of inventories.
Given that lowering the cost of living is the most important issue for voters this fall, further inflation spikes will only hurt Trump and the GOP in November.
Indeed, as gas prices fell following Trump’s ceasefire, Trump’s approval rating saw a tiny bump , as did generic-ballot polling for Republicans .
But if gas prices continue to climb, Trump’s numbers will likely take another downward turn.
History shows a strong correlation between the cost of gasoline and presidential approval.
Turns out, launching a war in Iran wasn’t a great idea.
Who would’ve thunk it?
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