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US President Donald Trump leaves after May 4, 2025, taking questions on the southern lawn after returning to the White House in Washington, Colombia.
Alex Uoblsky AFP | Gets the image
President Donald Trump Falsely claimed that gasoline prices dropped below $ 2 per gallon, and he sought to convince the federal reserve system to reduce interest rates.
“Gasoline just broke $ 1.98 per gallon, the lowest in years,” Trump said in a message on his platform on social media The truth is social Friday. “Consumers have been waiting for years to see how prices are dropping. No inflation, the Fed should reduce their bet !!!”
However, our US drivers paid $ 3.165 per gallon on Monday, reports AAA AC ACAB. This increase by almost 2 cents compared to last week and approximately $ 1.18 per gallon than Trump’s claim. According to AAA, gas prices have increased about 4 cents since Trump took office on January 20, when consumers paid about $ 3.12.
Gasbuddy also saw gas prices rise about 2 cents Last week, up to $ 3.12 per gallon based on data more than 12 million prices, covering more than 150,000 gas stations across the country. Increasing this week is the first time drivers have paid more than a pump for almost a month.
However, the average gas price decreased by 12 cents compared to last month and 49.6 cents lower than in the same period last year, Gasbuddy Data reports.
RBOB gasoline futures
Rbob gasoline On Thursday, the day before Trump’s post, futures touched $ 1.98 a gallon. Currently, the contract is trading at about $ 2 after reaching a minimum of about $ 1.96 during a trading session on Monday. The RBOB contract, however, does not reflect that drivers are currently paying for the pump. The contract tracks wholesale, unfinished gasoline before other costs, such as mixing in ethanol for retail production.
Asked by CNBC whether the RBOB president addressed, Trump administration officials pointed out recent contract price.
Patrick de Haan, Head of Oil Analysis at Gasbuddy, said only analysts, wholesalers and fuel buyers in large networks that care about RBOB.
“This price does not include anything. It eliminates taxes, excludes tariffs, transport, business value, credit card fees – I mean it all,” he said.
Rbob gasoline
“It does not come anywhere, explaining that consumers pay,” the analyst added. “For the consumer it would not matter to know what the price of RBOB is because they don’t pay the wholesale price of RBOB.”
The average pump price may drop below $ 3 per gallon
According to de Chaan, there are several places where the consumer can pay less. He said the prices
“Nothing at the retail level I have seen in the last couple of weeks was below $ 2 per gallon,” he said. However, de Haan said he saw some individual payments of $ 1.99 per gallon, but it reflects the ransom that consumers use to cut what they pay on the pumps.
“Compared to the apples, we did not see the retail price available to all below $ 2.20 per gallon, but what we have seen is consumers can reduce prices through the use of points and other shares,” De Chaan said.
Gas prices in the United States may soon fall below $ 3 per gallon when the oil refineries are completed and deliveries are increasing in the United States, De Chaan said. Prices for the pump are currently at the lowest level since 2021, said de Haan.
White House press secretary Taylor Rogers said gas prices have been recorded during Trump’s first term and fall again “Thanks to President Trump to unleash US energy.”
Gas prices have fallen over the last month when crude oil fell on the fears of the recession from Trump’s tariffs and OPEC+producers, which quickly bring more supplies to the market.
“While some damage caused by Bidenomics is still continuing, the economic agenda of the President Trump reduces the prices for US families at lightning speed,” Rogers said.
