Trump calls Iran war costs ‘small price to pay’

October 24, 2026

Washington: US President Donald Trump has acknowledged that the war with Iran has driven up oil prices and added to the financial pressures facing American households, but defended the economic consequences as a necessary price for preventing Tehran from acquiring nuclear weapons.

In an interview with Florida television station WINK-TV, Trump said he had anticipated an increase in energy prices when he decided to launch military operations against Iran. He insisted that the conflict would end soon and predicted that petrol prices would fall rapidly.

His remarks came as Americans prepared for the November 3 midterm elections, with the cost of living emerging as a major political issue and Republicans fighting to retain control of Congress.

“You know, it’s a small price to pay for taking a nuclear weapon away from Iran, which is a very evil country,” Trump said when asked about the financial burden on consumers.

Trump Acknowledges Rising Petrol and Grocery Costs

The President was responding to a question from WINK-TV anchor Claire Galt, who pointed out that Americans continued to face high grocery bills and that petrol prices in southwest Florida had reached an average of $4.18 a gallon.

Trump acknowledged that beef prices remained elevated and that oil prices had risen because of the conflict.

“Beef’s a little bit high and it’s coming down,” he said, adding that cattle production meant prices could take longer to adjust.

Turning to energy, Trump said he had expected the increase but considered military action unavoidable.

“We had it very low and I knew that would happen, but it was a choice,” he said.

Trump Defends Military Action Against Iran

The President maintained that Iran posed an unacceptable nuclear threat and argued that previous American administrations should have acted earlier.

“Number one state sponsor of terror, they can’t have a nuclear weapon. Iran cannot have a nuclear weapon. So, I’m honored to have done it,” he said.

Trump offered no specific timetable for ending the conflict but suggested that a negotiated settlement was not the only possible outcome.

“I see it ending soon. I see it ending one way or another, through agreement or otherwise,” he said.

The remarks left open the possibility of further military action even as the administration sought to reassure Americans about the economic consequences of the war.

At a separate Republican campaign rally in Fort Myers, Trump returned to the subject and said his administration had weighed the likely economic impact before proceeding with military operations.

He recalled seeing petrol prices of $1.85 and $1.95 a gallon during a visit to Iowa before the military campaign.

Trump said he subsequently told senior administration officials that preventing Iran from acquiring nuclear weapons had to take priority.

Trump Claims Oil Shipments Through Strait of Hormuz Have Increased

He also claimed that oil shipments through the Strait of Hormuz had increased despite the conflict.

“Tremendous amounts of oil are coming through the Hormuz Strait, more than we actually had before the war, which is pretty amazing,” he said in the television interview.

The President attributed the movement of oil shipments to American military operations and the US Navy’s presence in the region. His claims about shipping volumes were not independently verified in the supplied material.