The Chief of Staff to U.S. President Donald Trump, Susie Wiles, asked her advisers to present proposals for solutions to rising fuel prices in the United States following the attack on Iran.
As reported by Politico, citing anonymous informed sources from the energy industry, the Trump administration is “turning over every stone” in order to stop the price surge that threatens to endanger the economic goals of the American president.
The attack by the United States and Israel on Iran has raised the price of crude oil by more than 10 dollars per barrel, which pushed gasoline prices in the United States to the highest level since Trump took office in January last year.
Sources close to the White House state that Energy Secretary Chris Wright and advisers led by Interior Secretary Doug Burgum are under enormous pressure to find a way to stabilize the market.
“People are literally shouting at staff to find any good news that would suppress the narrative of constantly rising prices,” said one executive from the energy sector.
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The White House is considering several radical moves such as temporarily abolishing the federal fuel tax.
This measure would require approval from United States Congress, and there is a risk that refineries and gas stations may not pass the savings directly on to consumers.
In addition, President Trump has already announced that the U.S. military will offer protection to ships passing through the Strait of Hormuz.
The American president has also ordered the U.S. International Development Finance Corporation (DFC) to provide insurance for carriers whose policies were canceled due to wartime activities.
According to sources, in the first days of the conflict the “hawks” in the Trump administration such as Secretary of State Marco Rubio led the main discussion, while officials responsible for the economy and low energy prices were pushed into the background.
Now, when the average price of one gallon (3.79 liters) of gasoline has risen to 3.20 dollars, which is more than on the last day of the administration of Joe Biden, the economic wing of the White House is once again trying to take control of the narrative, sources add.
Trump is trying to calm the American public and on Tuesday stated that energy prices, after the conflict with Iran ends, will fall to levels “lower than ever before.”
The reality at gas stations in the United States, where the price has risen by more than 20 cents per gallon in just one week, nevertheless creates political pressure that Susie Wiles and her team cannot ignore.
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Source: Euronews; Foto: Reuters