Sen. Bernie Sanders Responds to Trump Economic Adviser's Comments on Oil Prices During Iran Conflict

By Joe Sommerlad

*Published: 2026-04-15*

National Economic Council Director Kevin Hassett commented on CNBC Tuesday about the potential impact of oil prices amid the recent Iran conflict. "Imagine if oil prices start going back down because the situation resolves itself somehow, then you could be looking at inflation close to zero," Hassett said.

The conflict began with U.S. military buildup and strikes on Iran under President Donald Trump's command starting January 26, 2026, escalating into hostilities from February 28. A ceasefire took effect on April 8, 2026, after six weeks of fighting, though oil market disruptions persisted.

During an appearance on MSNBC's "All In" with Chris Hayes, Sanders addressed Hassett's remarks after Hayes played the clip. Hayes noted: "I mean, I guess the idea is that if energy prices go down, it will be better, but energy prices are going up right now."

Sanders responded: "This is [President Donald Trump’s] economic adviser, God help us all." Sanders continued, according to reports of the exchange: "Look, the reality is [Benjamin] Netanyahu’s wars in Gaza, West Bank, Iran, Lebanon have not only been grossly immoral and destructive, but they are also impacting billions of people throughout the world."

Sanders added that 60 percent of Americans are living paycheck-to-paycheck. He cited gas prices in Vermont exceeding $4 per gallon, with higher prices in other areas, reducing funds available for food and rent.

Sanders stated: "So, what you are seeing is all across this country, you’ve got Republicans who said, ‘Gee, this guy promised us that we would not get involved in never-ending wars, we would not be involved in the Middle East, this guy who said he was going to bring down prices, control inflation, and what do we got now?’ You got an endless war, which, by the way, may end up costing us a trillion dollars."

He further remarked: "And Trump’s thought is that when we spend that money, we can cut back on healthcare and child care to pay for the war. Pretty crazy stuff. And, you know, now we have an affordability crisis magnified because of the war. So that is why I think you’re seeing people all over this country are saying, ‘Hey, what world is President Trump living in?’"

The American Automobile Association reported the national average U.S. gas price at $4.11 per gallon as of Wednesday morning, with higher prices on the West Coast. The report attributed the increases to the conflict's disruption of oil markets, including restrictions in the Strait of Hormuz.

In the same CNBC interview, Hassett addressed impacts on the energy sector: "While it’s very frustrating to go to the pump and see what the price of gasoline looks like, the benefit for oil producers and workers in those industries is significant enough that the GDP effect in the U.S. is much smaller," he told host Sara Eisen. Oil prices remained below $100 per barrel amid ongoing Strait of Hormuz issues.

The International Monetary Fund lowered its global growth outlook on Tuesday, stating the world economy could approach recession if the conflict intensified further.

The Trump administration provided varied assessments. Trump told Maria Bartiromo on Fox Business that the war is "very close" to ending, following the failure of peace talks in Pakistan the previous weekend. Two weeks earlier, he had said the U.S.’s “core strategic objectives are nearing completion.”

Treasury Secretary Scott Bessent told the BBC that a “small bit of economic pain” was acceptable for long-term international security. Kansas Republican Sen. Roger Marshall said on Newsmax: “I’m sorry the gas prices are going up but your national security is more important than your pocketbook.”

Energy Secretary Chris Wright, speaking at the Semafor World Economy summit in Washington, D.C., described his prior summer forecast for resolution as an “aggressive timeframe.” He said: “In the very long term, definitely, this will reset prices down. But we’re going to see energy prices, you know, high and maybe even rising, until we get the ships, meaningful ship traffic, through the Straits of Hormuz. That'll probably hit the peak oil price at that time. That's probably sometime in the next few weeks.”

Wright acknowledged, as Trump had previously told Bartiromo, a “very real possibility” of further oil price increases before improvement.

The ceasefire on April 8 has not yet fully restored oil flows through the Strait of Hormuz, contributing to sustained high prices. U.S. involvement in the conflict stemmed from Trump's directives starting in late January, alongside Israeli actions referenced by Sanders.

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