Brent Closes Above $100 for the First Time Since August 2022

Americans Begin to Feel Rising Gas Prices

74% of Americans Say "Gasoline Prices Have Increased This Year"

Trump Faces Mounting Political Pressure Amid Iran’s Hardline Stance... 48% of Americans Blame Him for Rising Oil Prices (Comprehensive) View original image

As the Iran war enters its 13th day with no signs of ending soon, the political burden on the Donald Trump administration is increasing. Public sentiment is also souring as Iran pursues a strategy of expanding the frontlines to the Middle East and blockading the Strait of Hormuz to drive up international oil prices and economically destabilize the Trump administration.


According to a Morning Consult online poll obtained by Axios on the 12th (local time), 74% of Americans responded that “gasoline prices have increased this year.” The survey, conducted with 1,002 Americans and carrying a margin of error of ±3 percentage points, marks a sharp 30-point increase compared to similar polling responses six weeks ago.


When asked “Who is primarily responsible for the rise in oil prices?”, 48% of respondents pointed to “the president and the current administration.” This was followed by oil and gas companies (16%), global market factors (13%), and former President Joe Biden (11%).


According to GasPrices.com data, US gasoline prices have risen continuously over the last 11 days. Axios reported that the average price of regular gasoline increased by more than 20% compared to the previous month.


International Oil Prices Surge Again Amid Iran’s Hardline Stance

In fact, the upward trend in oil prices in the US has accelerated since the war began. On this day, the price of West Texas Intermediate (WTI) crude for April delivery on the New York Mercantile Exchange closed at $95.73 per barrel, up $8.48 (9.72%) from the previous session.


Brent crude futures for May delivery surged 9.2% to close at $100.46 per barrel. This is the first time Brent, the international oil price benchmark, has closed above $100 per barrel since August 2022.


Mohsen Khamenei, the second son elected as successor to Ali Khamenei in Iran. Photo by AFP Yonhap News

Mohsen Khamenei, the second son elected as successor to Ali Khamenei in Iran. Photo by AFP Yonhap News

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The renewed surge in international oil prices was triggered by remarks from Seyyed Mojtaba Khamenei, Iran’s Supreme Leader. In his first public statement since taking office, Supreme Leader Mojtaba declared, “We must continue to blockade the Strait of Hormuz as a means of pressuring our enemies,” and added, “All US military bases in the Middle East must be shut down, or else they will come under attack.”


He further warned that Iran “will not avoid retaliation for the blood of the martyrs” in the event of an attack on Iran, vowing to continue Iran’s ongoing attacks on countries in the Gulf region.


Iran’s strategy of using the Strait of Hormuz as a weapon to counter US attacks appears to be working. On the 13th day since the Iranian airstrikes began, the American Automobile Association (AAA) reported that the national average gasoline price in the United States was $3.598 per gallon. This marks a 22.2% increase compared to the average price a month ago ($2.944 per gallon). Even compared to last year’s average price ($3.080 per gallon), this is a 16.80% increase.


Kyle Dropp, President of Morning Consult, analyzed, “Low gasoline prices have been a bright spot for the current administration. But that is no longer the case.”


White House Rushes to Consider Oil Price Stabilization Measures

In response, the Trump administration is reportedly considering a temporary waiver of shipping regulations. Following the renewed surge in international oil prices after Mojtaba’s statement, White House Press Secretary Caroline Leavitt said, “For national security, the White House is considering a temporary waiver of the Jones Act to ensure that essential energy products and agricultural goods can move freely into US ports.”


Caroline Leavitt, White House Press Secretary, answering questions from the press in the White House briefing room last year. Photo by Yonhap News

Caroline Leavitt, White House Press Secretary, answering questions from the press in the White House briefing room last year. Photo by Yonhap News

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The Jones Act, enacted in 1920, requires that goods transported between US ports be carried on US vessels. If the regulation is temporarily relaxed, foreign ships will also be able to carry oil and other energy products between US ports.


However, it remains uncertain whether this will actually reduce the oil price burden for Americans. Historically, emergency measures such as export restrictions, waivers of the Jones Act, and releases from the Strategic Petroleum Reserve have only provided temporary relief.


Alex Jacquez, Policy Director at the Groundwork Collaborative, stated, “The impact of the Jones Act on retail gasoline prices is less than two cents per gallon,” describing it as “minimal.”


Public opinion on the Iran war itself is also largely negative. According to a Washington Post (WP) poll of 1,005 American adults (margin of error ±3.6 percentage points), 42% responded that “the US should halt its military attacks on Iran.” Those in favor of continuing military action stood at 34%.


However, compared to a poll conducted immediately after the airstrikes on March 1, support for continuing the attacks increased from 25% to 34%, while those calling for a halt decreased from 47% to 42%, according to WP.


Notably, support for “continuing airstrikes” jumped by double digits among Republicans, independents, women, and adults aged 65 and older. On the question of “Do you support or oppose the US military operation against Iran?”, support and opposition were nearly tied at 42% and 40%, respectively, with 17% responding “not sure.”



Compared to an immediate post-strike poll in which 39% supported and 52% opposed “President Trump’s airstrikes on Iran,” the proportion of those opposed has decreased significantly, the WP noted.


This content was produced with the assistance of AI translation services.

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