Billionaire developer Donald Trump says President Barack Obama has made a secret deal with Saudi leaders to cut oil prices, and thereby gasoline prices, ahead of the 2012 election.

"Even though gasoline and oil prices are going through the roof, I have no doubt in my mind that President Obama made a deal with the Saudis to flood the markets with oil before the election, so he can at least keep it down a little bit," Trump says in an Internet video as part of his series "From the Desk of Donald Trump."

Oil now stands at $103 per barrel, and gasoline prices average $3.94 across the United States.

Editor's Note: Did Obama Betray America? Video Reveals Truth

After the election, the oil market is going to be a mess, Trump says.

“If he [Obama] wins, oil and gasoline shoot through the roof like never before. Let's hope he doesn't win. I believe a deal was made. It's a sinister deal, but let's see whether or not I was right."

Trump also criticizes Obama for producing four years of $1 trillion budget deficits. “He should be ashamed of himself,” Trump says.

Some experts say gasoline prices will rise further before the election.

"Gasoline inventory is still going down, and that's the important thing for the American consumer," Carl Larry, president of Oil Outlooks and Opinions, tells TheStreet.com. "Gasoline is not going to get cheaper."

Editor's Note: Did Obama Betray America? Video Reveals Truth