White House chief of staff Susie Wiles has asked advisers to bring proposals to the Oval Office for reducing gasoline prices, which rose 11 cents overnight amid U.S. and Israeli strikes on Iran, according to two energy industry executives familiar with the discussions, Politico reports.
"Folks are scrambling for announcements and messaging to counter the narrative" of rising prices, an energy industry executive told the news outlet.
The White House is "looking under every rock for ideas on improving energy prices, especially gasoline prices," one of the executives said.
White House press secretary Karoline Leavitt said Politico's report was "sensationalist, unverified gossip for clicks.
"Nobody is panicking. Thanks to President Trump's leadership in his first term and current term, the United States remains the largest crude oil and natural gas producer in the world. President Trump's entire energy team, from the White House to the National Energy Dominance Council to Secretaries Wright and Bessent, have a game plan to keep oil prices stable throughout Operation Epic Fury," she added.
The report comes as the Treasury Department is expected to announce measures as soon as Thursday aimed at combating rising energy prices, including potential action involving the oil futures market, a senior White House official said.
The potential move would mark an unusual attempt by Washington to influence energy prices through financial markets, rather than physical oil supplies, as officials race to blunt the political and economic impact of rising fuel costs.
Brent crude has jumped to roughly $85 a barrel amid fears the conflict could disrupt flows through the Strait of Hormuz, a route that carries about one-fifth of global oil shipments, while U.S. gasoline prices have climbed above $3 per gallon.
Leavitt also said the U.S. continues to tap into "newfound oil markets in Venezuela" and said the need for the U.S. to take action on insurance and security in the Strait of Hormuz underscores the importance of military intervention.
"I think it speaks to why this action was so necessary that ultimately the energy industry is going to benefit from the president's actions with respect to Iran, because Iran will no longer be controlling the Strait of Hormuz and restricting the free flow of energy," she said in a press briefing Wednesday.
Reuters contributed to this report.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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