GARDEN CITY, New York, \u2060Aug \u206014 (Reuters) – President Donald Trump \u2060on Friday urged Americans to accept slightly higher gasoline \u200bprices as the cost of preventing Iran from obtaining a nuclear weapon \u200cand said he would soon \u200cdeclare the Strait of Hormuz a U.S territory.<\/p>\n
The comments underscore \u2060the growing \u2060political risk for Trump as higher fuel prices collide with \u200bhis campaign promise to lower energy costs, with Democrats already seeking to make the economic fallout from the Iran war an issue heading into the \u200bNovember midterm elections.<\/p>\n
In a speech in Garden City, Trump said Americans \u2060who \u2060had to “pay a tiny \u2060little bit \u200bmore for your gasoline” should remember that this was the cost of \u200bensuring “a very evil \u2060country” could not have a nuclear weapon.<\/p>\n
“What we’re doing is a great service for the world, not only for ourselves … and we’re really doing a great job,” said Trump, adding he would never apologize \u2060for attacking Iran.<\/p>\n
Around roughly 20% of global oil and LNG shipments \u2060usually pass through the Strait of Hormuz and the potential for long-term disruption has pushed up oil prices.<\/p>\n
“After we finish defeating Iran … pretty soon I’ll be declaring the Hormuz Strait a territory of the United States,” said Trump, escalating his rhetoric over the vital waterway.<\/p>\n
It was unclear how seriously Trump intended the remark or whether it represented a new policy position.<\/p>\n
The \u2060remarks come as the Strait of Hormuz remains a critical pressure point for global energy markets.<\/p>\n
Oil prices have risen this week, with Brent crude approaching $90 a barrel, while U.S. gasoline prices \u200bhave climbed to around $4 a gallon.<\/p>\n
(Reporting By Humeyra Pamuk \u200band Jarrett Renshaw;Editing by David Ljunggren)<\/p>\n
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