Washington,
September 27: US President Donald Trump has claimed that oil prices are
currently lower than they were during former President Joe Biden's
administration, as energy prices remain a major issue amid the ongoing conflict
involving Iran.
“Oil is
less expensive now than it was under the Biden administration,” Trump said.
The
claim comes as global crude markets continue to face volatility linked to
disruptions around the Strait of Hormuz and uncertainty over the US-Iran
conflict. Brent crude was trading at about $102.75 a barrel on September 25,
according to recent market data.
Recent
Reuters reporting showed Brent crude trading near $100 a barrel in late
September, while West Texas Intermediate was around $95 a barrel. Oil markets
have been responding to concerns over supplies and shipping through the Strait
of Hormuz.
Trump's
statement depends on how “under the Biden administration” is measured. Oil
prices fluctuated considerably during Biden's four years, reaching particularly
high levels in 2022 before falling substantially during the later part of his
presidency.
Current
prices are also being influenced by events that developed after Biden left
office. The 2026 conflict involving Iran has disrupted energy flows and
contributed to higher crude and refined-fuel prices, according to recent
reporting.
The
Strait of Hormuz has become particularly important to the global oil market
because of its role as a major route for crude exports from the Persian Gulf.
Recent disruptions have forced producers and shipping companies to explore
alternative routes and methods for moving oil.
The
comparison between presidents can therefore produce different results depending
on whether the measure is the current daily price, the average price during an
administration, the peak price or the price at the beginning and end of a
presidency.
Trump
has previously made similar claims about gasoline and oil prices, arguing that
energy costs were higher during Biden's presidency. Recent fact-checking has
noted that while some averages can show lower prices during Trump's second term
to date, current prices have also exceeded those recorded on most days of
Biden's presidency.
The
latest oil-price increase has also affected US consumers through higher
gasoline and diesel costs. Recent reports have put US gasoline prices well
above levels seen before the Iran conflict, while diesel prices have reached
record levels.
Oil
prices remain closely tied to developments in the Middle East. Any changes in
shipping through the Strait of Hormuz, regional production, sanctions, military
activity or diplomatic negotiations involving Iran could influence crude prices
in the coming weeks.
Trump's
latest statement therefore comes amid a rapidly changing energy market, with
crude prices currently elevated by geopolitical risks even as they remain below
some of the highest levels recorded during previous periods of market
disruption.
