As oil prices climb and drivers brace for higher gas costs, President Donald Trump is celebrating the surge—for a simple reason: it means oil companies are making more money.
With crude oil briefly topping $100 a barrel for the first time in years, Trump took to Truth Social Thursday to frame the spike as a win for the United States, pointing out that the country produces more oil than anyone else.
“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump wrote.
That might sound like good news for energy companies and oil exporters. But for ordinary Americans, rising crude prices typically translate into more expensive gasoline, higher transportation costs, and pricier goods across the economy —a reality millions of drivers are already starting to feel.
The spike comes amid escalating tensions in the Middle East tied to the ongoing war with Iran. Officials in Tehran have warned that oil prices could climb dramatically if the conflict expands, with some estimates suggesting crude could surge as high as $200 per barrel.
Instead of expressing concern about what that could mean for consumers, Trump’s message focused squarely on the profits generated by America’s oil production industry.
Still, the president quickly pivoted to the broader geopolitical stakes of the conflict with Iran, saying his top priority remains preventing Tehran from obtaining nuclear weapons.
“BUT, of far greater interest and importance to me, as President, is stoping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World. I won’t ever let that happen!” Trump wrote.
The timing of the comment—celebrating rising oil prices as Americans face the possibility of paying more at the pump—quickly drew attention. Critics argue that while oil companies may benefit from surging crude prices, the typical result for consumers is the opposite: higher fuel costs and increased pressure on household budgets.
Energy markets have been volatile since the conflict began, with traders watching closely for signs that fighting could disrupt shipping through the Strait of Hormuz, one of the world’s most important oil transit routes.
If that happens, analysts warn the spike in prices could become far more severe.
