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Photo: Business Insider

Trump Blames Gas Prices as Democrats Take Congress

Trump said voters may have supported his actions against Iran but were unwilling to accept the resulting increase in fuel costs. He described the price rise as a short-term consequence of a policy he believes will bring longer-term benefits, and defended the campaign as important to preventing Iran from acquiring a nuclear weapon.

Average U.S. gasoline prices were about 36% higher than a year earlier on November 3, or roughly $1 more per gallon, while diesel prices had climbed about 70%. Disruptions to shipping through the Strait of Hormuz, a key route for global oil, have constrained supply since the U.S. and Israel began airstrikes on Iran in February. The White House has said oil prices should fall significantly when the conflict ends.

Democrats’ victories give them majorities in the House and Senate, putting Trump’s legislative agenda and nominations in opposition-controlled chambers. Trump said he would veto legislation he considered unacceptable but predicted the two parties could eventually reach agreements. He also congratulated Democratic leaders and said he did not view the results as a personal defeat because he was not on the ballot.

Trump additionally criticized several GOP contenders for not rallying his backers, including candidates who had previously opposed him. He said he was surprised by the party’s performance despite holding large rallies. Fighting with Iran continues at a reduced level, and recent limited U.S. attacks near Qeshm, an island within the Strait of Hormuz, have taken place.

Reported by Business Insider, Fox News, The Boston Globe.

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