President Trump told CBS White House correspondent Weijia Jiang that he expects gasoline prices, which have climbed above $4 per gallon on average, to come down “when we leave” Iran — a remark reflecting his view that U.S. policy and military pressure are accomplishing their aims. Markets reacted to reports that Iranian leaders might be open to ending the conflict: stocks rose and oil prices eased intraday, though Brent and WTI remained above $100 a barrel, keeping pump prices and diesel costs elevated for consumers and businesses.
Across the country, higher fuel costs are straining household and business budgets. Truck drivers, farmers and small-business owners report sharper pain: Iowa farmer Lance Lillibridge said diesel for heavy equipment jumped roughly $1 per gallon, significantly increasing costs for a single fill during planting season. A dog walker in Oakland reported paying more than $6 a gallon at one station. Florists and other small enterprises warned that rising delivery and operating expenses are forcing them to reduce services or absorb slimmer margins.
Economic and market perspective
University of Michigan economist Justin Wolfers and CBS economics correspondent Major Garrett emphasized how quickly financial markets price in even small signs of de‑escalation. Expectations of an end to hostilities typically lift equities and relieve oil prices; conversely, risks of escalation push energy and risk premia higher. Wolfers noted that oil trading around $100 a barrel implies continued upward pressure on pump prices even if crude slips temporarily. He warned of broader macro effects: several months of conflict could shave tens of thousands from monthly U.S. job growth, erode hundreds of billions in household purchasing power, and cost households thousands of dollars in some scenarios.
What Trump told Weijia Jiang
In a phone interview, Trump said he expected prices to fall once U.S. commitments in Iran were reduced — using the phrase “when we leave” to describe a drawdown or settlement — and asserted that the U.S. had “done our job.” He called some Iranian interlocutors more “reasonable,” said the U.S. had “decimated Iran,” and suggested the war was “winding down” ahead of schedule, though the administration’s public timeline has shifted since the conflict began. On Iran’s enriched uranium, Trump downplayed the need to physically remove deep underground material to declare victory, saying the administration did not focus heavily on that question and noting the difficulty of accessing some facilities.
National security debate
Former National Security Advisor John Bolton told The Takeout that merely removing individual leaders would not constitute meaningful “regime change” if the Islamic Revolutionary system remained intact. He urged continued pressure on Iran’s instruments of state power, particularly the Islamic Revolutionary Guard Corps, and ongoing support for opposition groups, while warning of possible reprisals and asymmetric threats if the conflict ends without a comprehensive strategic settlement.
CBS national security analyst Aaron MacLean highlighted the strategic importance of the Strait of Hormuz, through which about 20% of the world’s seaborne oil passes. He cautioned that if Iran restricts traffic or imposes fees, global energy markets would feel sustained strain. While Britain or France might attempt to keep the waterway open, MacLean said doing so without substantial U.S. involvement would be unrealistic; U.S. military options could reopen the strait, but at cost and risk.
Markets and everyday impacts
Major U.S. indexes have swung widely based on Iran headlines: rumors of de‑escalation boost equities and lower oil, while incidents raise energy prices and risk premiums. Diesel price increases are especially damaging because they feed directly into trucking, farming and other sectors. Analysts note ripple effects across fertilizer, plastics, logistics and food prices.
On-the-ground reporting
CBS reporters found farmers in Iowa grappling with rising diesel bills during planting; small-business owners across several states saying delivery fees and operating costs are rising; and motorists experiencing sticker shock at pumps. The White House has described price jumps as temporary, tied to the supply shock from the conflict, but consumers and businesses are already feeling the pinch.
Where Iran stands
Trump suggested outreach to new Iranian interlocutors and indicated a willingness to find an “off‑ramp.” Critics, including Bolton, countered that changing faces does not necessarily alter the regime’s revolutionary aims and cautioned against assuming a leadership shift removes strategic threats. Analysts stressed that verifiably dismantling Iran’s nuclear ambitions would pose ground-operation challenges.
Other national news
Space: One day before liftoff, retired Navy SEAL and former astronaut Chris Cassidy previewed NASA’s Artemis II, a crewed lunar flyby designed to test systems en route to the lunar surface. The mission will use a free‑return trajectory taking the crew farther from Earth than any since Apollo, validating spacecraft systems and procedures ahead of future landing missions. CBS News plans extended launch coverage.
Legal and Supreme Court developments: In a defense move in the case of the man charged in the assassination of Charlie Kirk, attorneys argued that ATF analysis could not conclusively link a bullet fragment from the autopsy to the rifle recovered near the scene. CBS legal contributor Jessica Levinson noted that inconclusive ballistic matches are not dispositive but can give the defense material to challenge the prosecution’s evidence chain and help create reasonable doubt.
In a major Supreme Court ruling, the Court struck down Colorado’s ban on conversion therapy for minors as unconstitutional viewpoint discrimination in an 8–1 decision. Justice Gorsuch wrote the opinion, joined by two liberal justices and five conservatives; Justice Ketanji Brown Jackson dissented.
The Court was also set to hear arguments over a presidential executive order seeking to redefine birthright citizenship under the 14th Amendment — a case that will test the scope of the Citizenship Clause and grapple with originalist and textualist interpretations of the Constitution.
Politics and the week ahead
A political panel discussed former South Carolina governor and congressman Mark Sanford’s bid to return to the ballot, noting how comeback narratives play with voters but also the challenges for candidates who previously lost credibility. The panel also considered how the Iran war and high fuel costs could reshape campaign messaging and the economic backdrop for contests.
What’s next
The Takeout will continue tracking developments in the Iran conflict, market reactions and the domestic fallout from rising energy costs, alongside full coverage of the Artemis II launch and ongoing reporting on the White House’s goals and timelines in Iran and their political and economic consequences.