California Governor Gavin Newsom (D) has slammed the President Donald Trump administration as gasoline prices across the U.S. continue to surge.

‘Thanks To President Trump,’ Says Gavin Newsom

In a post on the social media platform X on Sunday, Newsom's official press office handle slammed Trump for the price surge. "THANKS TO PRESIDENT TRUMP, PRICES ARE COMING DOWN!" the post said, quoting a post that said the price of a gallon of gas in the U.S. hit $3.70.

$1.5 Billion In Excess

In an X post on Saturday, Newsom slammed the Trump administration over the price rise, as well as the "disastrous" war with Iran. "No amount of spin from Trump and his lackeys" could hide that "Americans shelled out an extra $1.5 BILLION for gas this past week," Newsom said in his post.

According to data compiled by the American Automobile Association (AAA), the average price of a gallon of gas on Sunday hit $3.699 per gallon, with gas in California costing $5.509 per gallon.

Energy Secretary Predicts End To War

Meanwhile, the U.S. Energy Secretary Chris Wright has remained optimistic about the forthcoming end to the conflict with Iran, sharing that a conclusion may be imminent in the coming weeks.

Wright also shared that as Iran lays a blockade on the Strait of Hormuz, which is a key trading route responsible for at least a fifth of the world's oil supply, naval escorts could also be possible for ships passing through.

Benefits To Oil Companies, Tesla

On the other hand, U.S.-based oil companies could record benefits of up to $60 billion as the war with Iran escalates, with the companies already seeing a $5 billion increase in cash flow.

Elsewhere, investor Gary Black of The Future Fund LLC has shared that sales of Elon Musk-led Tesla Inc. (NASDAQ:TSLA) could theoretically surge as oil prices push past $100 per barrel.

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