Trump predicts petrol price plunge after US victory over Iran
US President Donald Trump predicts a sharp fall in petrol prices after victory over Iran, as both sides hold separate talks with mediators
- President Trump predicted that petrol prices would fall sharply following an anticipated US victory in its seven-month war with Iran.
- Trump expressed confidence that the US would win the conflict "very soon," presenting the price drop as a forecast of what would follow that outcome.
- The war has disrupted global oil shipments by restricting vital waterways like the Strait of Hormuz, a key factor in current petrol prices.
- Despite predicting a victory, US officials are in mediated talks with Iran, whose proposals for ending the conflict include reopening the Strait of Hormuz.
US President Donald Trump predicted in Washington on Monday (September 28, 2026) that the United States would win its seven-month war with Iran “very soon”, as officials from both countries held separate discussions with mediators about ending the conflict.
“We’re going to win, as far as I’m concerned, it’s going to be one way or the other,” Trump told reporters in the Oval Office. “It’s going to go pretty quickly.”
Trump also predicted that petrol prices would fall sharply after a US victory. The remarks were a forecast of what would follow his anticipated outcome, rather than an announcement that fighting had ended. Reuters
Revised Iranian proposal expected to guide further talks
Further negotiations are expected to concentrate on an amended version of Iran’s seven-day proposal, an official briefed on the discussions told Reuters. Tehran presented the plan on the sidelines of the United Nations General Assembly the previous week.
US and Iranian officials confirmed that their delegations spoke separately with mediators on Monday. Trump acknowledged the US discussions at the White House but gave no further details about them.
Iranian Foreign Minister Abbas Araqchi, who remained in New York after attending the General Assembly, said Tehran expected Washington’s response to its latest ceasefire proposals and conditions for restoring shipping through the Strait of Hormuz, according to Iran’s state news agency IRNA.
“If the Americans claim they are seeking an agreement or a peaceful solution, we have presented that solution,” Araqchi said.
Iran links Hormuz reopening to an end to hostilities and economic restrictions
Iran’s seven-day plan calls for an end to all hostilities in Iran and Lebanon, the unfreezing of Iranian assets worth billions of dollars, the removal of sanctions on Iranian oil and the lifting of the US blockade on Iranian ports.
Under Iran’s proposal, those steps would be followed by the reopening of the Strait of Hormuz, a vital route for oil tankers. Washington and Tehran would also resume discussions about Iran’s nuclear programme and Trump’s wish to seize or eliminate Iran’s highly enriched uranium.
The war began with US and Israeli attacks on Iran in late February. Thousands of people have been killed during the seven-month conflict, which has shaken global markets as disruption to vital waterways restricted oil shipments.
Previous US–Iran ceasefire agreements, reached through mediated negotiations in April and June, both quickly collapsed.
Trump signals more negotiations despite rejecting Iran’s plan
Trump publicly rejected Iran’s proposal on Saturday, September 26, arguing that crippling economic pressure had driven Tehran to pursue a rapid agreement. Nevertheless, Trump told Axios on Sunday that he expected US negotiators to take part in further talks during the coming week.
Araqchi said on Sunday that mediators had not formally communicated an American rejection. Iran was waiting for Washington’s definitive position before deciding its next steps.
“Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met,” Araqchi said on Sunday, adding that only a negotiated solution could resolve the impasse.
