Trump Administration Eyes All Options to Tame Oil Prices

WATCH: Trump is weighing a range of options for addressing the spike in oil and gasoline prices. Stephen Stapczynski explains.Source: Bloomberg

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By Jennifer A Dlouhy

March 5, 2026 at 8:14 PM UTC

Updated on

March 5, 2026 at 9:10 PM UTC

The Trump administration is weighing a range of options for addressing the spike in oil and gasoline prices amid the war in Iran, Interior Secretary Doug Burgum said.

“Everything is being considered,” Burgum said in an interview Thursday, adding that the list includes possible actions that would have immediate impact as well as longer-term and more complex options.