US President Donald Trump has acknowledged that the ongoing war with Iran has driven up oil prices and intensified financial pressures on American households, but defended the economic fallout as a necessary trade-off to prevent Tehran from acquiring nuclear weapons. The remarks were made in an interview with Florida television station WINK-TV on 24 October 2026.

Trump's Justification for the Economic Pain

When asked by WINK-TV anchor Claire Galt about the financial burden on consumers — including petrol prices averaging $4.18 a gallon in southwest Florida and persistently high grocery bills — Trump was unapologetic. 'You know, it's a small price to pay for taking a nuclear weapon away from Iran, which is a very evil country,' he said.

The President acknowledged that beef prices remain elevated and that oil prices have risen as a direct consequence of the conflict. 'Beef's a little bit high and it's coming down,' he said, noting that cattle production cycles mean prices could take longer to normalise.

On energy, Trump said the price increase was anticipated but that military action was unavoidable. 'We had it very low and I knew that would happen, but it was a choice,' he said, recalling petrol prices of $1.85 and $1.95 a gallon during a visit to Iowa before the military campaign began.

Nuclear Threat as the Central Argument

Trump framed Iran as 'the number one state sponsor of terror' and argued that denying Tehran a nuclear capability was a historic obligation. 'Iran cannot have a nuclear weapon. So, I'm honoured to have done it,' he said. He also suggested that previous American administrations had failed by not acting sooner.

The President offered no specific timetable for ending the conflict but left open the possibility of further military action. 'I see it ending soon. I see it ending one way or another, through agreement or otherwise,' he said — a formulation that stops well short of a ceasefire guarantee.

Claims on Hormuz Shipping Volumes

Trump made a notable claim in the WINK-TV interview regarding oil flows through the Strait of Hormuz, asserting that shipments had actually increased since the war began. 'Tremendous amounts of oil are coming through the Hormuz Strait, more than we actually had before the war, which is pretty amazing,' he said. He attributed this to US Navy operations in the region. These claims were reportedly not independently verified.

The Political Context: Midterms and the Cost-of-Living Debate

Trump's remarks came as Americans prepare for the 3 November midterm elections, with the cost of living emerging as a dominant political issue. Republicans are fighting to retain control of Congress, and rising fuel and food prices have become a flashpoint on the campaign trail.

At a separate Republican campaign rally in Fort Myers, Trump reiterated that his administration had weighed the likely economic impact before proceeding with military operations, framing the decision as a deliberate strategic choice rather than an oversight. As the midterms approach, the administration's ability to reconcile its national security rationale with voters' household anxieties will likely define the final stretch of the campaign.