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Trump makes new promises on gas prices

President Trump is promising that gas prices will drop as the U.S. seeks a resolution in the Iran war. CBS News' Nancy Cordes reports.
May 1 (02:30)

TRANSCRIPT FOR: “TRUMP MAKES NEW PROMISES ON GAS PRICES AS IRAN WAR REACHES 60-DAY MARK”

NANCY CORDES:
00:00:35

Even as gas prices shot up Thursday, President Trump promised relief. As soon as the war is over, it will drop like a rock. There's so much of it.

NANCY CORDES:
00:00:44

But US gas prices have been climbing for nine straight weeks from an average of $2.98 a gallon in late February to $4.39 a gallon now. In Indiana, the price per gallon is up more than a dollar in just one week. At $5 a gallon, I about wilted like an old flower. It's bad.

NANCY CORDES:
00:01:05

The price hikes in a midterm election year are making some Republican lawmakers nervous. It's a real problem for affordability. It's also a big political problem.

NANCY CORDES:
00:01:14

Democrats intend to make Trump's handling of the war a major campaign issue. He cannot explain how it will end, and he sure as hell cannot explain how it helps one single family here in the United States of America. I'm looking at, right now, $75 a day in fuel alone.

NANCY CORDES:
00:01:35

In Minneapolis, Rideshare driver Romeo Tillman says his numbers no longer add up. We get anywhere beyond where we are right now, it's going to be catastrophic. These drivers right now are not even-- none of us are making it at all.

NANCY CORDES:
00:01:48

The head of Meals on Wheels America said many volunteer drivers who pay for gas themselves may have to make some tough choices. Meals on Wheels is a lifeline to a number of seniors across the country. And so to me, we are putting people's lives at risk if we aren't able to meet their basic needs. When asked yesterday about talks with Iran that appear to be stalled, President Trump insisted that only he and a few others actually know the status of those talks. He insisted a few weeks ago that the two sides were actually very close to a deal, but that is a claim that other negotiators have not made, Errol.

ERROL BARNETT:
00:02:26

All right, Nancy at the White House, thank you.

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