Full transcript of "Face the Nation with Margaret Brennan," Oct. 4, 2026
Summary
President Donald Trump is campaigning to address high prices ahead of the midterm elections, acknowledging that his party faces challenges in communicating its economic message. Energy Secretary Chris Wright said gasoline and diesel prices are expected to fall by Election Day due to increased supply and lower demand after summer, despite ongoing tensions involving Iran.Key Facts
- President Trump is on a red state tour to encourage Republican voter turnout before the midterms.
- A CBS poll shows 90% of voters rate the economy based on prices, with 70% blaming Trump’s policies for higher food and grocery costs.
- 90% believe the conflict with Iran is raising U.S. gas and oil prices.
- Energy Secretary Chris Wright expects gas and diesel prices to decline by Election Day.
- U.S. gasoline production is at a record high, and demand drops after the summer driving season.
- Diesel prices are affected by the Russia-Ukraine war and China's export decisions.
- Two large California refineries closed recently, partly due to state policies, reducing energy supply resilience.
- The U.S. is sending defensive equipment to Gulf countries to protect oil infrastructure amid tensions with Iran.
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