President Trump has celebrated one of his administration’s goals, to bring oil and gas prices down for all Americans, with a particular move.
The official White House account posted a video on Tiktok featuring Donald Trump dancing to the rhythm of “Gasolina,” a Latin song released in 2004 by Puerto Rican singer Daddy Yankee, whose title translates to “gasoline” in Spanish. With the motto “promises made, promises kept,” the video states that 43 U.S. states now have gas prices under $3 per gallon.
In some states, the White House claims that gas prices have gone as low as $2 or even lower, including Kansas, Oklahoma, Texas, and Colorado.
This milestone contrasts with the gas prices that President Biden had to deal with during his term, which, according to the U.S. Energy Information Administration (EIA), averaged $3.45 from January 2021 to December 2024.
And while Trump has made gas prices a priority, experts believe that current market dynamics have helped him achieve this goal. Patrick De Haan, Gasbuddy’s head of petroleum analysis, told CNN that “global supply dynamics — particularly OPEC’s [Organization of the Petroleum Exporting Countries] production decisions — have been the primary force behind the relief drivers are seeing at the pump.”
High-level production in the U.S., aided by the steady flow of OPEC oil into the market, has contributed to low prices. But Trump’s move into Venezuela, and the possibility of stabilizing an Iran shaken by nationwide protests, might also contribute to sustaining high production levels, even considering future OPEC cuts.
While some experts claim that Venezuelan oil returning to the U.S. market would not make a change, others believe that prices will be susceptible to any influx. “Prices are set on the margin, and small imbalances in volume can lead to large shifts in prices,” said Rick Joswick, Head of Near-Term Oil Analytics at S&P Global Energy.
Nonetheless, this depends on Venezuela’s swift oil output recovery to over 3 million barrels per day, a task considered difficult given that current levels only reach from 800,000 to 1 million barrels per day due to aging infrastructure and power constraints.
Even with Trump’s $100 billion investment numbers, which would come from private companies entering Venezuela, analysts believe production will take years to recover.
Another avenue to keep oil prices down would be Iran’s stabilization, and Washington is already acting in that regard. While prediction markets anticipated (and still do) an attack on Iran, Trump recently stated otherwise, explaining that the situation in Tehran had been controlled and that Khamenei’s regime would not be executing more protesters.
After Trump’s statements, Brent prices fell over 4% on Thursday, evidencing the volatility that affecting Iran’s production might cause in international markets. Deutsche Bank’s Jim Reid declared that Iran, unlike Venezuela, has a well-maintained infrastructure and produces over 4% of all the world’s oil. A conflict in Iran would have “the potential for wider spillovers in the oil market, he assessed.
Even without all these elements that could aid Trump in reaching his final $2 goal, De Haan believes that gas prices will maintain a downward trend toward $2.97 per gallon in 2026, reflecting “the unwinding of post-pandemic market distortions, expanding global refining capacity, and more stable supply chains.”
So, with these key elements in his favor, Trump might keep doing the gas dance until next year.
Read more: Trump Presses US Oil Expansion Into Venezuela, Signals Exxon Exclusion
What recent achievement has President Trump celebrated regarding gas prices? Trump showcased a Tiktok video celebrating that 43 U.S. states have gas prices under $3 per gallon, with some states reporting prices as low as $2.
How does Trump’s administration’s gas price goal compare to President Biden’s era? During Biden’s term from January 2021 to December 2024, average gas prices were around $3.45, highlighting the drop under Trump’s policies.
What factors are contributing to the decrease in gas prices? Experts attribute the price drop primarily to global supply dynamics, particularly OPEC’s production decisions and high U.S. production levels.
What potential impacts could Venezuelan and Iranian oil have on future gas prices? While Venezuelan oil recovery presents challenges, Iran’s more robust infrastructure could also influence global oil markets significantly, potentially affecting pricing stability.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
