Trump says price of oil, gas ‘could be’ down, ‘the same or maybe a little bit higher’ by the midterms

The Hill
by Tara Suter
April 12, 2026
2 min read

Quick Insights

The Bottom Line

President Trump stated oil and gas prices could vary by midterms after announcing a Strait of Hormuz blockade.

How This Affects You

Your gasoline costs could decrease, stay the same, or slightly increase by the midterm elections, impacting your household budget.

AI Summary

President Trump stated on Sunday that oil and gas prices could either decrease, remain stable, or slightly increase by this year’s midterm elections. These comments followed his announcement that the U.S. military would begin blockading ships attempting to enter the Strait of Hormuz. The President's remarks offer a range of possibilities for energy costs ahead of a significant election cycle. This uncertainty in the energy market, combined with potential military action affecting global shipping lanes, could influence economic conditions and voter sentiment.

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