(AP) — The president acknowledged that oil and gas prices were going to rise as the U.S. remains engaged in the ongoing Middle East conflict — yet argued that prices would drop once the war ends.

“We have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before,” Trump told reporters in the Oval Office.

The average price for a gallon of gasoline jumped 11 cents overnight Tuesday to about $3.11 in the United States, according to the American Automobile Association.