Vance Warns Of ‘Rough Road Ahead’ As Oil Prices Surge, Signals Relief Coming Soon
Vice President JD Vance warned Wednesday that Americans should brace for rising energy costs in the short term as the war with Iran continues to drive up global oil prices.
Speaking at an event in Auburn Hills, Michigan, Vance acknowledged the financial strain many families are already feeling.
“We’ve got a rough road ahead of us for the next few weeks, but it’s temporary,” Vance said.
Oil prices have surged amid the conflict, climbing close to $110 per barrel and pushing gas prices higher across the United States.
“Look, gas prices are up, and we know that they’re up and we know that people are hurting because of it,” Vance said.
He emphasized that the administration is actively working to stabilize costs and provide relief.
“We’re doing everything we can to ensure they stay lower,” he added.
Vance also hinted that new policy actions could be announced very soon.
“President Trump is working on a number of things — in fact, a couple of things that I think will be announced in just the next 24 to 48 hours,” he said.
The administration has already taken steps to ease pressure on energy markets.
Earlier Wednesday, President Donald Trump issued a 60-day waiver to the Jones Act, allowing foreign ships to transport oil between U.S. ports.
The move is intended to increase supply flexibility and reduce transportation costs.
Last week, Trump also ordered the release of 172 million barrels of oil from the Strategic Petroleum Reserve.
That amount represents roughly nine days of domestic supply and is aimed at helping bring down prices.
Despite those efforts, the impact of the war has been significant.
Over the past month, the national average price for gasoline has jumped by about 92 cents, reaching approximately $3.84 per gallon.
Higher fuel costs are also driving up the price of goods across the economy, as transportation expenses increase.
Vance sought to reassure Americans that the situation will improve once the conflict stabilizes.
“It’s not going to last forever,” he said.
“We’re going to take care of business. We’re going to come back home. And when that happens, you’re going to see energy prices come back down to reality.”
In the meantime, the vice president acknowledged the challenge facing the administration.
“We have got a problem. We know we have a problem. We’re doing everything we can to address it,” Vance said.