Trump Says He Doesn't Think About Americans' Finances. Gas Is at $4.52 a Gallon.

May 18, 2026

President Donald Trump told reporters at the White House on May 12 that Americans' economic pain is "not even a little bit" a factor in his Iran negotiations. Gas prices have climbed from $2.98 a gallon when the war started to $4.52, a four-year high, costing U.S. consumers an estimated $20 billion in added fuel costs. When Fox News aired the clip back to Trump days later, he said, "That's a perfect statement. I'd make it again."

Trump tells reporters he doesn't think about Americans' financial situation during Iran negotiations. Source: PBS NewsHour / YouTube

"Not Even a Little Bit"

Asked whether Americans' financial situations were motivating him to strike a ceasefire deal with Iran, Trump did not hesitate: "I don't think about Americans' financial situation. I don't think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon."

The statement came on the White House lawn before Trump departed for a two-day summit with Chinese President Xi Jinping in Beijing, where he touted "fantastic trade deals" and announced China would purchase at least $17 billion in U.S. agricultural products annually. Back home, the average gallon of gasoline had crossed $4.52. Fox News anchor Bret Baier played the clip back to Trump during a follow-up interview. Trump was unmoved. "That's a perfect statement," he said. "I'd make it again."

"That's a perfect statement. I'd make it again." — President Donald Trump, May 2026, defending his own words on Americans' economic pain

The Price Americans Are Paying

The war began February 28, when U.S. and Israeli forces launched strikes against Iran. Within days, the Iranian Revolutionary Guard Corps restricted tanker traffic through the Strait of Hormuz, through which approximately 20 percent of the world's oil flows. As of this week, roughly 1,600 ships remain trapped or rerouted at significant cost.

Crude oil prices have swung wildly since. North Sea Dated crude peaked at $144 a barrel before settling near $110. A PBS/NPR/Marist poll found 63 percent of Americans blame Trump for the elevated pump prices. The International Energy Agency estimates cumulative supply losses from Gulf producers have exceeded 1 billion barrels, an unprecedented supply shock. Beyond oil, the strait carries more than 30 percent of global urea exports, the primary fertilizer input for most commercial agriculture, raising downstream food-price risks across import-dependent markets.

A Ceasefire on Life Support

Negotiations have stalled. Trump has demanded Iran halt its nuclear program for at least ten years and surrender an estimated 440 kilograms of highly enriched uranium. Iran's lead negotiator, Mohammad Ghalibaf, said Washington must accept Tehran's "rights" or face "one failure after another." Trump called Iran's latest counterproposal "totally unacceptable" and declared the ceasefire "on massive life support" on May 11. He has since threatened renewed military strikes if Iran does not move "fast."

Eighty days in, the president has made the accounting explicit: Americans' finances are not part of the calculation. The bill, at $4.52 a gallon, is appearing in every American's wallet whether they are part of the calculation or not.

Sources

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