Trump's attacks on Iran are hitting his own economic vulnerability: 'Political liability'

A new economic fallout broke out Monday after President Donald Trump ordered attacks on Iran — prompting gasoline and oil prices to surge, according to reports.

Trump's military move could have a significant impact on his energy agenda and gas prices as midterms approach, something he has boasted about since his return to the White House in his second term, Bloomberg reported. As prices rise, it could be a challenge for the president and his Republican Party this fall.

"Gasoline futures jumped as much as 9% Monday as the flow of tankers carrying crude and fuel through the Strait of Hormuz all but ceased," according to Bloomberg.

The American Automobile Association reported that by Sunday, the average retail price in the United States had hit $3 a gallon, which is the highest amount in three months. Just last week, Trump claimed that gasoline reached $2.30 a gallon in most states and that the national average hit $2.98.

Gasoline and oil prices were expected to keep climbing, according to the American Automobile Association.

“Americans have very staunch beliefs on how much they should pay for gasoline,” Patrick De Haan, GasBuddy’s head of petroleum analysis, told Bloomberg. “So it does become a political liability.”