US Vice President JD Vance said the US-Iran conflict could enter a 'much different phase in a couple of months', backing Trump's suggestion that the war may wind down after the midterms.

Vance's remarks on the conflict's trajectory

Vance stated that there are 'really two phases to this thing, and the first phase is done', signalling a potential shift in the nature of the ongoing conflict. His comments aligned with Trump's earlier suggestion that the situation could change following the midterm elections.

The remarks were reported by the New York Post. No further details on the specific nature of the anticipated phase change or the timeline of the midterm elections were provided in the source.

President Donald Trump stated on Friday evening that he will "never apologize" for the average price of gasoline rising above $4 per gallon. Speaking at a rally in Garden City, New York, Trump linked the higher energy costs to geopolitical strategy, asserting that the price increase prevents a "very evil country" from acquiring a nuclear weapon.

"For you to pay a tiny little bit more for your gasoline, just remember you’re doing it so that a very evil country cannot have a [nuclear weapon]. So remember that when you have to pay a little bit more, you’re at $4. It’s OK," Trump said.

Energy Price Surge

The current pricing environment contrasts with Trump’s campaign pledges in August 2024, when he promised to reduce energy prices by 50% and bring gasoline below $2 a gallon. Instead, prices have surged during the ongoing conflict with Iran. According to AAA data, the national average gasoline price has risen to $4.07 per gallon, an increase from $3.88 last month. Diesel prices have also climbed sharply, reaching $5.40 per gallon compared with $4.98 last month.

Higher energy prices have contributed to elevated inflation in the US, prompting some Federal Reserve officials to advocate for higher interest rates. Data released this week shows that the US Consumer Price Index (CPI) slipped to 3.4% in July from 3.5% the previous month. Excluding volatile food and energy prices, inflation stood at 2.5% in July, remaining above the Federal Reserve’s target of 2.0%.

Geopolitical Stalemate

Gas prices are expected to remain at elevated levels as the US-Iran conflict enters a stalemate. The Memorandum of Understanding (MoU) signed in June has expired, and Iran has adopted a hardline stance regarding the reopening of the Strait of Hormuz. Tehran has demanded reparations, the unfreezing of its assets, and the lifting of sanctions.

The US is shifting toward an economic response amid dwindling ammunition supplies and reported morale issues aboard the USS Lincoln. Treasury Secretary Scott Bessent stated that the US would impose tougher sanctions to force Iran back to negotiations. However, Iran, operating in "survival" mode, appears unlikely to yield. Iran’s Deputy Foreign Minister emphasized that the strait would be opened or closed only under Iran’s command, citing continued enforcement of the blockade until the US accepts defeat.

Traffic through the Strait of Hormuz has slowed further following attacks on ships attempting to cross. The UAE reported attacks on Friday, highlighting the strategic importance of the waterway for global energy markets. Iran aims to prolong the war to exert pressure on the US as President Trump’s approval ratings decline.