President Donald Trump announced Wednesday that gasoline prices are expected to drop dramatically after the November 3 midterm election, saying the current surge is the result of Iranian interference. Speaking at Joint Base Andrews before heading to the GOP convention in Dallas, Trump said, “oil prices are going to be tumbling downward… we’ll get gasoline below $2 a gallon.”
Federal outlook differs
The U.S. Energy Information Administration (EIA) released a report the same day noting that Middle‑Eastern oil constraints are likely to persist through the end of the year, with full production capacity not returning to pre‑conflict levels until at least mid‑next year. The agency projects that retail gasoline will average about $3.35 per gallon in 2027, well above the $2 level Trump cited.
State‑level price snapshot
According to AAA data, the price of regular gasoline in Illinois was $4.41 per gallon on Wednesday, up 12 cents from a week earlier and nearly $1 higher than a year ago. Diesel averaged $5.94 nationally, with Illinois just two cents below that figure.
Critics weigh in
Illinois Governor J.B. Pritzker blamed rising costs on Republican policies, linking higher grocery and fuel prices to the administration’s trade and foreign‑policy decisions. He said the GOP convention was an attempt to distract voters from these economic pressures.
Industry perspective
Petroleum analyst Patrick De Haan of GasBuddy cautioned that a $2 per gallon average is unlikely in the near term, even after the election, and warned that diesel prices could reach historic highs of over $6 per gallon in the coming days.
While President Trump remains confident that the market will correct itself quickly, federal projections suggest a slower, more gradual decline in fuel costs.
Original reporting: KTBS 3 (Shreveport) — read the source article.
