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President Donald Trump attempted to spin high oil prices as a boon for the United States at a rally in Arizona on Wednesday, just hours after new federal data showed that inflation reached its highest level in months in September.

“Because of the price of oil, Texas and Oklahoma and North Dakota and all these places, we’re making a fortune,” Trump declared, referring to states that produce large amounts of crude oil. Those states are home to major fossil fuel companies that have reported windfall profits amid Trump’s illegal war on Iran.

Trump insisted that gas prices — currently at an average of $4.33 per gallon for regular gas and $6.32 for diesel — would tumble once the Iran war ends, but his administration has repeatedly given false timelines for the deadly conflict and has shown no indication that it is willing to reach a lasting diplomatic agreement.

Trump, who has profited massively from his second term in the White........

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