I’m glad Trump is focusing on this. More affordability, less bombing of Venezuelans and a lot of the other stupid ■■■■ this administration has been focused on.
Yeah, it’s a pretty volatile chart for gas, and all sorts of things impact it. A month ago a comparison might have been very different. Ditto a month from now.
But it’s used as an argument tool (depending on the movement at the time) because just about everyone buys gas.
If the price weren’t so elastic, that would be an argument on the Trump side that gas hasn’t gone up like everything else. (And yes, I’m using hyperbole in saying that EVERYthing has gone up.)
Assessing the impact of tariffs will have different short-term and long-term results. (And the larger point of the tariffs is to encourage less importing and more domestic production, which physically cannot happen overnight.)
One thing that should be simple to see is that increases in retail costs (if any) because of the tariffs has not been nearly as much as the actual tariffs themselves. I think different points along the supply chain (from manufacturing/harvesting to shipping, to importing, etc.) have absorbed parts of the tariffs. And I expect most of that will eventually find its way to the end-point consumer over time.
Whether or not the intended domestic production increases catch up to supply consumer appetites is anyone’s guess. (Or if that production results in lower cost consumer goods to attract consumers to domestic products.)
Once again MAGAs pretend they understand how to look at trends by showing one data point.
This graph from the EIA shows the trend.
Gas prices peaking in 2022, then quickly dropping over 2022 through early 2023 (black).
Undulating flat line ever since…no major inflection point is seen in 2025 that would signal there was some awesome policy change by Trump that caused gas prices to precipitously fall (blue)
Just like I said…also, just like I said…MAGAs completely divorced from reality.