Despite President Donald Trump’s claims that low prices at the pump, oil prices are still rising throughout the nation. According to AAA, the average price for a gallon of regular gasoline increased to$ 3.15 per quart on Wednesday.
The most recent price increase at the pump comes after gas prices dropped for several weeks in March. The price for regular oil on Wednesday has slightly increased from the previous week’s$ 3.139 per gallon value. Additionally, there is an increase compared to a week ago when the regular price for a gallon of regular gas was$ 3.102. The average gas price for a gallon of regular gasoline was$ 3.078 eight days ago. The Trump administration celebrated March’s (up until late ) lower oil prices on March 17 with the most recent wave of gasoline prices.
A gallon of regular gasoline was$ 3.134 when oil prices are now more costly than they were a month ago, which is an even more disturbing signal. The boost on Wednesday comes after Trump mentioned a drop in oil prices in an interview with Newsmax’s Greg Kelly on Tuesday. The Trump administration’s claim about lower oil prices is justified by the fact that fuel costs are significantly less expensive than they were a year ago, when regular gas expense$ 3.53 per gallon. Oil prices have fallen significantly during the Biden administration’s final few months, reaching a three-and-a-half-year low of$ 3.011 per gallon on December 10. This is, however, primarily due to this.
Oil prices have always been a hot topic in political discourse in the nation because of the number of economic factors people have to consider when buying fuel. The reality that may never have been better than during the Biden administration’s tenure when the price of oil soared to record highs has been that higher gasoline prices mean less disposable income for most in the nation. It also a striking contrast to oil prices during Trump’s first word, when the typical cost for a gallon of regular gasoline was$ 2.476 between Jan. 2017 and Jan. 2021. Fuel costs increased by more than$ 3 per gallon shortly after Biden took office in January 2021.
Throughout Biden’s entire presidency, gas prices remained above$ 3 per gallon. The U.S. Energy Information Association reported that Americans were burdened by high gas prices, including a record high of$ 5 per gallon, which made it the nation’s highest average price of$ 5.03 per gallon for regular gas, which was the highest in the country’s history. Gasoline prices remained consistently great the next month, though with a little reduce, dropping to$ 4.92 per gallon.
HOW TRUMP WILL USE DEPARTMENT OF EDUCATION EVEN AFTER PUSH TO SHUT IT DOWN
Prices gradually decreased in July 2022, and they did so for the rest of the time. Oil rates fluctuated over the next two decades, but they remained constant higher than they were when Trump was in business. Energy prices had reached their highest point in the year by April 2024, before starting to decline suddenly in May. The rest of the year’s rate would continue to decline gradually, falling below the national average of$ 3.01 per gallon, as stated above.
Oil prices vary throughout the nation, based on the city, the place, and the state where one lives. Petrol prices in Mississippi are the least expensive in the nation, at$ 2.676 per gallon. California has the highest average price for regular oil, with a nationwide average of$ 4.651, significantly higher than the national average.
