President Trump told CBS White House correspondent Weijia Jiang that gas prices, which have climbed above $4 a gallon on average, will fall “when we leave” Iran — a comment that underscored his insistence that U.S. policy and military pressure are producing the results he seeks. Trump said he was “not much” concerned about setting an exact date to declare victory. Markets rallied on reports that Iranian leaders might be willing to end the war, and stocks posted sharp gains while oil traded lower — though Brent and WTI remained above $100 a barrel, keeping gasoline and diesel prices high for consumers and businesses.
Nationwide reactions underscore the strain. Truck drivers, farmers and small businesses say fuel costs are squeezing budgets. In Iowa, farmer Lance Lillibridge said diesel for heavy equipment has jumped $1 per gallon — raising field costs by hundreds for a single fill. A dog walker in Oakland reported paying more than $6 a gallon at one station. Flower shop owners and other small businesses warned that delivery and operating costs are rising and that some services will be curtailed.
Economic and markets analysis
University of Michigan economist Justin Wolfers and CBS economics correspondent Major Garrett emphasized that financial markets quickly price in even small steps toward de‑escalation. When the war looks like it might end, equities rally and oil eases; when it looks like escalation is possible, energy and risk premia move higher. Wolfers noted that oil at $100 a barrel implies further pressure on pump prices even if short‑term oil slips lower, and he warned of broader macroeconomic fallout: several months of conflict could shave tens of thousands off monthly U.S. job growth and erase hundreds of billions of household purchasing power, translating to thousands of dollars per household in some scenarios.
White House interview: What Trump told Weijia Jiang
Weijia Jiang reported on her phone interview with President Trump. He told her he expected gas prices to fall when the U.S. “left” Iran — a shorthand Trump used to describe a drawdown of U.S. military commitments or a settlement — and said, “we’ve done our job.” He described Iranian interlocutors as more “reasonable,” said the U.S. had “decimated Iran,” and suggested the war was “winding down” and two weeks ahead of schedule — though the administration’s public timeline and objectives have shifted since the conflict began. On Iran’s enriched uranium, Trump downplayed the need to remove material from deep underground to declare victory, saying the U.S. “doesn’t think about that much” and suggesting the facilities would be hard to access.
National security debate: Bolton, MacLean
Former National Security Advisor John Bolton warned on The Takeout that removing political leaders without dismantling the Islamic Revolutionary system is not “regime change” in any strategic sense. He argued that replacing leaders who share the regime’s ideology would leave the same strategic threats intact. Bolton also urged sustained pressure on Iran’s instruments of state power — the Islamic Revolutionary Guard Corps — and continued aid to opposition groups, while cautioning about reprisals and asymmetric threats if the conflict winds down without a full strategic settlement.
Aaron MacLean, CBS national security analyst, said control of the Strait of Hormuz remains central: 20% of the world’s seaborne oil passes through it. If Iran continues to restrict traffic or imposes fees, global energy markets will feel it, and the notion that Britain or France alone could secure the strait without significant U.S. involvement is unrealistic. He said U.S. military options could reopen the waterway, but at cost and risk.
Markets and everyday impact
The Dow and other indexes have shown large swings tied to Iran headlines: every rumor of de‑escalation lifts markets, and conversely, hostile incidents raise oil and risk premiums. For consumers and businesses, rising diesel is particularly acute: truckers and farmers use diesel for transporting goods and running heavy equipment. Analysts note that oil price increases transmit across fertilizer, plastics, logistics and food prices.
Reporting from the field
CBS News reporters gathered on‑the‑ground reaction: farmers in Iowa talked about higher diesel bills during planting season; small business owners in several states said delivery fees and operating costs will rise; and people at gas stations reported sticker shock. The White House has insisted price increases are temporary and linked to the supply shock created by the conflict.
Iran: Where things stand
Trump suggested talks and engagements with new Iranian interlocutors and indicated he might be willing to find an “off‑ramp.” Critics, including Bolton, said the faces may change but the revolutionary regime’s aims likely remain, and warned against assuming a changed leadership means the strategic threats have been removed. Analysts note that dismantling Iran’s nuclear ambitions in a verifiable way remains a ground operation challenge.
Artemis II preview; space coverage
One day from liftoff of NASA’s Artemis II, retired Navy SEAL and former astronaut Chris Cassidy previewed the mission — a crewed lunar flyby that will test systems on the way to renewed human missions to the lunar surface. A free‑return trajectory will carry the crew farther from Earth than any mission since Apollo, allowing NASA to validate spacecraft systems and procedures before a lunar landing, which remains scheduled for later missions. CBS News will carry extended launch coverage.
Legal and Supreme Court developments
A defense development in the case of the man charged in the assassination of Charlie Kirk raised questions about forensic linkage: attorneys argued that ATF analysis “could not” conclusively connect a bullet fragment found in the autopsy to the rifle recovered near the scene. CBS legal contributor Jessica Levinson explained that inconclusive ballistic matches are not dispositive: they don’t rule out a connection, but they do give the defense material to challenge the prosecution’s chain of evidence and create reasonable doubt on one element of a case.
In another major ruling, the U.S. Supreme Court struck down Colorado’s ban on conversion therapy for minors as unconstitutional viewpoint discrimination in an 8–1 decision. The Court, in an opinion by Justice Gorsuch joined by two liberals and five conservatives, said the law prohibited certain therapist speech because of its content and viewpoint, violating the First Amendment. Justice Ketanji Brown Jackson dissented.
Birthright citizenship case preview
The Court was set to hear arguments about the president’s executive order redefining birthright citizenship under the 14th Amendment — whether children born on U.S. soil to parents without lawful status are U.S. citizens. The case tests the breadth of the Citizenship Clause and will challenge the Court’s originalist and textualist approaches to the constitutional language and historical understanding.
National politics and panels
The show’s political panel discussed the return of former South Carolina governor and congressman Mark Sanford to the ballot. Strategists noted how second‑chance narratives play in politics, but also the uphill path for candidates who lost prior credibility with voters. The panel also addressed how the war in Iran and high fuel costs could reshape political messaging and the broader economic backdrop for campaigns.
What’s next
The Takeout continued to follow the evolving Iran war, market responses, the domestic fallout from rising energy costs, and key legal and Supreme Court rulings. CBS News planned full coverage of the Artemis II launch and ongoing reporting on the White House’s Iran objectives and their political and economic consequences.