STOCKS | Sanders Urges Trump to End Iran War as U.S. Fuel Prices Hit New Highs

U.S. Senator Bernie Sanders criticized U.S. President Donald Trump on Thursday, saying ordinary Americans are finding it harder to afford high energy costs during the Iran war. According to Sina Finance, Sanders said Trump had described high oil prices as a "very low price" to pay for the war, and added that Americans cannot afford gasoline at $4.44 per gallon, truckers cannot afford diesel at $6.40 per gallon, and families cannot afford heating oil at $5.50 per gallon. According to the American Automobile Association, the national average gasoline price on Thursday was $4.4386 per gallon, while the diesel average was $6.3956 per gallon. Sanders said, "End this war now!" As gasoline prices continued to rise, the Federal Reserve raised its interest-rate range by 25 basis points, drawing criticism from people on both ends of the political spectrum. U.S. President Donald Trump's trade adviser Peter Navarro said higher rates would hurt the economy amid volatile oil and gas prices, arguing that those prices have effectively become a hidden rate hike. Illinois Governor Jay Robert Pritzker also sharply criticized the decision, saying the Fed raised rates because of the Iran conflict and that drivers have spent an additional $107 billion since the conflict began in February. Meanwhile, the United States may also impose restrictions on diesel exports. Senate Majority Leader John Thune said the government may be willing to consider such measures to control domestic prices.