Washington, USA — One of the effects of the tensions in the Middle East has been economic pressure felt in different parts of the world.
In the Philippines, the conflict has contributed to higher prices, particularly for petroleum products.
The Philippines even became the first to declare a state of energy emergency to address its effects.
In the United States, the situation is no different, with Americans also feeling the impact of rising prices, particularly the cost of oil.
According to the American Automobile Association, diesel prices in the U.S. reached a record high of 6.31 U.S. dollars per gallon yesterday, September 16.
Meanwhile, in April, at the height of the tensions, the U.S. inflation rate rose to 4.8%, according to Trading Economics.
It slightly declined to 3.4% in August.
But President Donald Trump blamed the rising prices on the previous administration of the former U.S. President Joe Biden.
In a Truth Social post, Trump said the problems were caused by Biden and not by him.
He also compared oil prices under the Biden administration with current prices.
Based on available data, the average diesel price during Biden’s administration reached more than 5.80 U.S. dollars per gallon.
Lower than the 6.31 U.S. dollars per gallon today.
Meanwhile, Trump assured that prices, particularly oil prices, will also go down, saying they would “drop like a rock” once the military conflict with Iran ends.
The U.S. President previously said the tensions could end after the U.S. midterm elections scheduled for November.
Former President Biden has yet to respond to Trump’s statements.
Meanwhile, Trump has not only blamed Biden for the rise in oil prices. He also recently said the Russia-Ukraine war has contributed to the increase.