"I'll ask you a question so many are talking about, and that is gas and oil prices, said Smith. Thankfully, we have seen oil come down significantly more than 20 percent since election day. Gas prices are now negative under this administration, almost to the three-dollar mark, she continued, How much do you believe they will continue to go down? The president is talking about I think I've heard him talk about $2 gas?"
"The price today, according to this graphic, is $3.07. A year ago, it was $3.08. That is a difference of $0.01. One cent. One penny. To be clear, every single word of what Smith said was accurate. A decrease of $0.01 is in fact a negative trend for a price. Whether or not that $0.01 price difference is something that actually makes a practical difference is a matter that the reader can decide."
"It should also perhaps be noted that Trump announced in February he was ordering the Treasury Department to stop minting pennies, leaving this one-cent price drop with an expiration date. Smith is also correct that President Donald Trump has talked about $2 gas. He has, in fact, repeatedly claimed that gas is $2 per gallon or even less in some states since he started his second term."
Oil prices have declined by more than 20 percent since election day. A national AAA graphic listed the current average gas price at $3.07, compared with $3.08 a year earlier, a one-cent decrease. That one-cent drop constitutes a technically negative change but is practically negligible. The Treasury was ordered to stop minting pennies, which could eliminate the one-cent denomination. Public claims of $2-per-gallon gasoline are inaccurate in national data; GasBuddy shows no state with gas under $2 and only isolated areas near $2.50 per gallon.
Read at www.mediaite.com
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