Trump Struggles with Affordability as Gas Prices Hit Historic Lows
The recent drop in gasoline prices has led to mixed reactions, especially among Americans concerned about affordability. Currently, the national average for a gallon of regular gasoline is nearing $3, marking the lowest point since 2020. This figure, however, stands in contrast to former President Donald Trump’s assertion that prices were below $1.99 in certain states.
Current Gas Prices Across the States
According to data from GasBuddy, various states are experiencing significant disparities in gasoline prices. Here’s a summary:
- Lowest Gas Prices: States like Texas, Louisiana, Arkansas, Oklahoma, Colorado, Iowa, Wyoming, Wisconsin, Kentucky, Tennessee, Alabama, and Mississippi have prices ranging from $2.18 to $2.95 per gallon.
- Highest Gas Prices: Conversely, states such as Pennsylvania, Washington, Oregon, Idaho, Nevada, California, Arizona, Alaska, and Hawaii are witnessing prices that exceed $3.46, reaching over $4 per gallon.
Factors Influencing the Price Decline
The decrease in gasoline prices can be attributed to a robust domestic supply of crude oil. The U.S. Energy Information Administration reported that gasoline production rose to 9.8 million barrels per day for the week ending November 28, an increase of more than 2% compared to the same period last year.
Market Trends
Furthermore, the price of West Texas Intermediate (WTI) crude oil was recorded at $58.58 during the week ending November 28. This figure indicates a decrease of $0.28 from the previous week and a significant drop of $9.68 year-over-year. These trends in crude oil prices contribute to the current national average of about $3.06 per gallon.
Public Sentiment and Reactions
While the decline in gasoline prices provides some relief, challenges persist as Americans grapple with an ongoing affordability crisis. Many are questioning why they are not seeing lower prices at the pump despite structural changes in oil and gasoline production.
