Gasoline parices are dropping, which is somehow devastatingly bad news for Pres. Trump. The Hill newspaper reports,
Gasoline prices have fallen to just over $3 per gallon.
That’s good news for consumers and the Trump administration after President Trump promised to bring down prices…
Good news for Trump? Wait for it…
but it could complicate a “drill, baby drill” agenda.
And whether prices will stay low may depend on whether the administration’s sanctions on Russia are effective, experts say.
To recap: low gasoline prices are bad for Trump. If prices fell further, that would be more bad. If prices went up again, that’s more bad news for Trump.
Details from The Hill,
The national average gasoline price stood at $3.07 per gallon on Friday, according to AAA. That’s down from $3.16 a month ago and $3.15 a year ago.
I gassed up today and paid more than 15 cents per gallon less than what I paid at that same station, just a few weeks ago.
But there is always a dark cloud on the horizon,
While a positive for consumers, low prices may be bad for the oil industry. Already, several major oil companies have announced layoffs. They’re also less likely to invest in new drilling operations.
Landman hardest hit. On the other hand, more barrels are being purchased for the strategic reserve, at an attractive price, The Hill reports.
