Trump Predicts Gas Below $2 as Crude Nears $100
President Donald Trump said U.S. gasoline prices could eventually fall below $2 a gallon after what he described as a U.S. victory in the conflict with Iran, even as crude oil prices moved higher on renewed concerns over Gulf energy supplies and shipping.
By Carolina Curiel
Published September 8, 2026
What Readers Should Know
- Trump said oil prices would fall sharply after a U.S. victory in the conflict with Iran.
- He predicted gasoline could first fall to about $3 a gallon and eventually below $2 a gallon.
- Brent crude was quoted at $97.34 per barrel in the article’s early-Tuesday market snapshot.
- WTI crude was quoted at $92.63 per barrel.
- Goldman Sachs raised its December 2026 and 2027 Brent and WTI forecasts amid expectations of prolonged Middle East shipping disruptions.
Trump Predicts Lower Gasoline Prices After Iran Conflict
MONTREAL (Oil Monster): U.S. President Donald Trump said oil prices could decline sharply after the United States prevails in its conflict with Iran, while predicting that U.S. gasoline prices could eventually fall below $2 a gallon.
In a post on Truth Social, Trump said oil prices would fall sharply after the U.S. “wins” the war with Iran. He said gasoline could first fall to around $3 a gallon and eventually below $2.
Crude Prices Move Higher on Gulf Supply Concerns
The comments came as oil prices moved higher Tuesday amid escalating tensions between the United States and Iran and renewed concerns over energy supplies and shipping routes in the Gulf.
Brent crude futures gained 34 cents, or 0.35%, to $97.34 per barrel by 0000 GMT. U.S. West Texas Intermediate crude climbed $1.15, or 1.26%, to $92.63 per barrel.
Brent had already reached its highest level since July 24 in the previous session as traders added a risk premium over concerns surrounding the Strait of Hormuz.
Goldman Sachs Raises Oil Price Forecasts
Goldman Sachs raised its December 2026 Brent and WTI forecasts by $5 per barrel to $85 and $80, respectively.
The bank also lifted its 2027 forecasts to $80 per barrel for Brent and $75 for WTI.
Iran Warns Gulf Energy Assets Could Be Targeted
Iran warned that Gulf energy infrastructure and U.S. oil and gas interests could face attacks.
The warning followed recent strikes involving U.S. forces, Iranian military units and oil tankers, adding to concerns that the conflict could widen further across the region.
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