US President Donald Trump has told a Florida rally that when oil tankers are released from the Strait of Hormuz, the prices of fuel will plummet.

“There is so much oil out there … it’s all locked up in the Strait of Hormuz,” he says, adding that there are “close to 400 ships loaded up with oil”.

“When all of that gets released, when all of that comes out … you’re going to see prices dropping on gasoline like you’ve never seen,” he adds.

Trump has also castigated Iran for “trying to hold up our country for years … by closing up the Strait of Hormuz”.