Amid escalating tensions with Iran and a significant surge in oil prices, California Governor Gavin Newsom slammed President Donald Trump‘s recent dismissive stance, using an old post from Trump.
Newsom took to X late Sunday to post a screenshot of Trump’s 2013 post on the platform (then Twitter), in which he expressed concern about a rise in oil prices.
“Do you notice that oil prices just went up big time?” read Trump’s post.
Newsom’s succinct caption “We noticed” served to underscore the sarcasm, painting Trump’s recent remarks as inconsistent with his past apprehension over increasing oil prices.
Trump Shrugs Off Energy Price Surge
The surge in oil prices is a direct result of intensifying tensions with Iran, sparking worldwide apprehension over potential economic repercussions. When last checked, WTI crude oil prices were trading 13.1% higher at $102.86 per barrel. This is the first time in 4 years that the prices have surged past $100 per barrel.
Surprisingly, Trump, on Sunday, described the oil price spike as a “very small price to pay” for global security. Last week, he said he had “no concern” about rising gas prices, indicating that the rise is a short-term pain. “If they rise, they rise,” he told Reuters.
Adding to the complexity of the situation, Israel’s extensive strikes on 30 Iranian fuel depots have reportedly ignited the first significant discord between the U.S. and Israel since the conflict began. The U.S. expressed concerns that these attacks on infrastructure could backfire and cause a further spike in oil prices.
Notably, Treasury Secretary Scott Bessent had told CNBC last week that the Trump administration is set to launch a series of measures to tame the rising energy prices. Earlier, Trump had announced that the U.S. Development Finance Corporation (DFC) would provide political risk insurance and guarantees for maritime trade, especially energy shipments through the Gulf. He also said the U.S. Navy is ready to escort tankers through the Strait of Hormuz.
California Gas Prices Top $5 Per Gallon
In the past months, Trump repeatedly boasted of lowering gas prices below $2 per gallon, and data backed his claims. In November, the RBOB gasoline futures traded near $1.90 per gallon, after hitting a 4-year low of $1.74 in mid-October.
Currently, it is trading over 9% higher at $3.00 per gallon.
Meanwhile, Newsom’s California is the only state that has an average fuel price above $5 per gallon, driven by state taxes and fees, environmental regulations, and special fuel requirements. Amid the Iran war, the gas rates in the state have hit $5.20 per gallon.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
Image via Imagn Images
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