Washington, United States – Web Desk: President Donald Trump has announced that petrol and fuel prices will fall significantly further following the reopening of the Strait of Hormuz, which he hailed as a major victory from the recent peace agreement with Iran .
Speaking at Joint Base Andrews, President Trump touted a series of recent U.S. successes, including the reopening of the critical oil shipping lane, which had been blocked during the conflict .
He predicted that the reopening would push global oil prices down to “rock bottom” levels, delivering significant relief to consumers. “Petrol prices are going to be much lower now, and the oil companies better be happy about it,” Trump said.
The president also took a combative stance on the military campaign, claiming that U.S. forces had “completely paralyzed” Iran’s military capabilities within just one week, including its navy, air force, and radar systems. He framed the peace deal not as a compromise, but as a “total military defeat” for Iran, describing the agreement as a form of “unconditional surrender” .
“I did a naval blockade where not one ship was able to get through. Some tried. It didn’t last very long,” Trump stated, praising the U.S. military as the “best and most powerful in the world” .
The reopening of the strait followed the electronic signing of the “Islamabad Memorandum of Understanding” between the U.S. and Iran, mediated by Pakistan. Under the terms of the deal, Iran agreed to allow free transit through the strait in exchange for the lifting of the U.S. naval blockade .
The agreement triggered an immediate drop in global crude prices , and while the national average gas price in the U.S. fell below $4 per gallon for the first time in months, it remains above pre-war levels .
