Trump Waves off High Oil Prices and Insists ‘We’re Making a Fortune’ Off of it

President Donald Trump said high oil prices due to his war on Iran aren’t all bad because “a fortune” is being made from it.

Oil prices spiked at the start of the war in February. Brent crude and West Texas Intermediate are at $106 and $95, respectively, as of this writing. The national average for a gallon of gas is $4.33.

Speaking at a rally in Arizona on Wednesday afternoon, Trump brushed aside high energy costs, touting the money being made in the industry and in major energy-exporting states.

“I never say this because  – and watch, they’ll cut this stuff out and leave the little sentence,” the president said. “Our country is making more money than it’s ever made, because of the fact that oil is so high. Now they’re gonna say, ‘Isn’t it terrible? He talked about the fact that he doesn’t care about the little person,’ they call them. I care more about the little person than I care about the big person. I care about the little person like crazy. But the fact is, because of the price of oil, Texas and Oklahoma, North Dakota, and all these places, we’re making a fortune. But I never talk about it, because I’m not happy until we get the actual price of oil down to where it was prior.”

Trump went on to reiterate that the Iran war is worth it because the country was on the verge of acquiring a nuclear weapon, a claim contradicted by U.S. intelligence agencies.

Oil companies reported record profits in the second quarter of 2026. Those firms also did well in the third quarter and were even outshone by oil refiners, who averaged an eye-popping return of 52% over the previous quarter.

Watch above via C-SPAN.

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