Trump Dismisses High Fuel Costs as 'Fake' in Las Vegas Speech

The president sought to downplay the economic impact of his war with Iran during an event promoting a tax credit for tipped workers.

Apr. 17, 2026 at 2:22am

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A fragmented, abstract painting of an oil pump jack in overlapping geometric shapes and waves of dark blue, steel grey, and fiery orange, conceptually representing the volatility and instability of the energy market.The president's dismissal of high fuel costs as 'fake' underscores the political stakes of the economic fallout from the ongoing war with Iran.Las Vegas Today

President Trump downplayed the high fuel costs and economic damage caused by his ongoing war with Iran during a speech in Las Vegas, claiming the financial hardship was 'fake' and that the country was 'having some fake inflation.' Trump appeared at the event alongside Treasury Secretary Scott Bessent and a group of workers who said they had benefited from the president's policies.

Why it matters

Trump's dismissal of the economic toll of the war with Iran, including high gas prices and a tourism downturn in Las Vegas, reflects an effort to project confidence in the economy ahead of the 2028 presidential election, despite the real financial hardship faced by many Americans.

The details

In his speech, Trump claimed that 'we're having some fake inflation because of the fuel, the energy prices, which everybody said was going to $250.' He appeared to be referring to the fluctuations in oil prices, which have increased substantially due to the war but dipped below $95 per barrel on Thursday. Trump made little mention of the over $5 per gallon gas prices in Las Vegas or the rising cost of airline tickets driven by fuel costs.

  • Trump gave the speech on Thursday, April 16, 2026.
  • The war with Iran has been ongoing for about two months.

The players

Donald Trump

The 45th President of the United States, who is seeking to downplay the economic impact of his war with Iran ahead of the 2028 presidential election.

Scott Bessent

The current U.S. Treasury Secretary, who appeared alongside Trump at the event in Las Vegas.

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What they’re saying

“We're having some fake inflation because of the fuel, the energy prices, which everybody said was going to $250.”

— Donald Trump, President of the United States

“I just want to say: You're welcome.”

— Donald Trump, President of the United States

What’s next

The president's dismissal of the economic toll of the war with Iran is likely to face continued scrutiny from critics who argue he is downplaying the real financial hardship faced by many Americans.

The takeaway

Trump's speech in Las Vegas reflects an effort to project confidence in the economy and his policies ahead of the 2028 election, even as high fuel costs and the broader impact of the war with Iran continue to weigh on many Americans.