Joe DePaoloMay 4th, 2026, 4:38 pm

Despite surging gas prices nationwide, President Donald Trump bragged about oil prices — claiming some critics predicted it would go to $300 per barrel.

Speaking as part of a small business summit at the White House on Monday, the president saluted Energy Secretary Chris Wright and sounded satisfied with the current level of oil prices. And he claimed his critics had predicted oil prices would hit a truly disastrous level.

“Everybody was wrong,” Trump said. “They thought that energy would be at $300, right? Three hundred dollars a barrel. And it’s, like, at $100. And I think going down. And I see it going down very substantially when this is over.”

As of this writing, crude oil is trading at just over $105 per barrel. And gas prices continue to spike nationwide. The industry tracking Gas Buddy shows $4.45 as the average price for a gallon of regular gas nationwide — up by more than $1.50 from just two months ago.

Still, Trump sounded an optimistic note on a subject where he has sometimes sounded less than confident.

“I see it going down very substantially when this is over,” Trump said. “I think very rapidly too at levels that you’ve never seen. Because there’s there’s a lot of energy out there. Ships all over the world that are loaded up with it. They can’t do much with it because they got kidnapped by a pretty evil place, but we’re taking care of it.”

Watch above, via Fox News.

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