President Donald Trump's top economic advisor, Kevin Hassett, said on Monday that gas prices in the U.S. will come down to pre-Iran war levels once traffic through the Strait of Hormuz returns to normal.

The Trump administration's Rapid Response handle posted a clip of Hassett's CNBC interview. He explained that pipelines in Saudi Arabia and the United Arab Emirates (UAE) are now running near capacity due to the Strait's challenges, whereas they were underutilized before the conflict.

"Once traffic is really moving, we go back to more than 100 ships a day," Hassett said, "you're going to see prices even come down" to pre-war levels. He added that free-flowing traffic would result in "so much oil pouring out."

Hassett also noted that during the 60 days following the Memorandum of Understanding (MoU), Iran will test Trump's "resolve," pointing to strikes over the weekend. He touted a safer global oil market and free-flowing traffic through the Strait after the talks.

Sen. Ed Markey (D-Mass.) voiced sharp criticism of Trump and his handling of the Iran war in a post on X. "This Fourth of July weekend, gas prices are skyrocketing as Donald Trump's reckless war with Iran keeps driving up costs for working people," Markey said, calling the situation "Unacceptable."

Meanwhile, California Gov. Gavin Newsom (D-CA) defended the state's gas tax once again, as GOP lawmakers pointed out that prices at the pump are $2 higher than the national average. Newsom noted that the hike, which raises the excise tax to $0.634/gallon from July 1, 2026, was voted on by citizens before he took office.

GasBuddy analyst Patrick De Haan decried gas price hikes in states like Florida, Colorado, and Michigan, where prices increased by roughly $1/gallon—including tax and transport costs—even as oil prices fell. Trump has also urged oil companies to lower pump prices after global oil prices dropped to around $70.