Trump Blames Oil
President Trump demands a federal investigation into why retail gas prices aren't plummeting as rapidly as crude oil costs
92 national average is simply acting like “feathers” drifting down after a major global supply shock. 928 per gallon. 224 average, according to AAA data. Instead of corporate price-gouging, Nobel laureate Krugman recently outlined, in a Substack post, why consumers are experiencing this lag.
Krugman described a “well-documented pattern” in how fuel markets respond to international shocks. “When there is a global shock that causes the price of crude oil to soar, gasoline prices rise like a rocket,” Krugman wrote. ” Read Also: Good News For Drivers: Mohamed El-Erian Expects Gas Below $4 And Diesel Below $5 Within Days As Crude Prices Plunge Midterm ‘Lifejackets’ Needed? S.
blockade and the reopening of the Strait of Hormuz, the timeline for economic relief clashes with Trump’s political calendar. Krugman noted that the president is “desperate to end the war” because of the steep political price of high fuel costs, with midterms only more than four months away. ” Ultimately, he suggested the GOP might need to find “some lifejackets” ahead of November. ”, the president concluded that customers are facing artificial price inflation.
“In other words, customers are being gouged,” Trump wrote. 99 per barrel. 63. 16% year-to-date.
34% in premarket on Wednesday. 54% YTD. 81% in premarket on Wednesday. Read Also: Goldman Sachs Has A New Warning For Oil Bulls: EV Adoption Is Accelerating Fast Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.
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