Oil prices will drop very big after I end Iran war: Trump

U.S. President Donald Trump said that oil prices would drop significantly once the conflict with Iran comes to an end.

In a Sunday interview with Fox News host Maria Bartiromo, Trump had suggested that fuel prices might stay the same or even rise slightly by the time of the November congressional elections. However, in another interview recorded on Tuesday at the White House and aired Wednesday, he said his earlier remarks had been misinterpreted and sought to address the criticism.

Trump stated that he is comfortable with oil prices being around $92 per barrel, adding that they would "drop very sharply" once the war is over, which he believes could happen soon.

He also predicted that gasoline prices, currently averaging just over $4 per gallon, would be "much lower" by the time elections take place. Emphasizing the same point, Trump said that once the conflict is resolved, fuel prices would decline substantially. -- Agencies