Gas prices coming down due to recession fears, foreign production, not Trump’s drill-baby-drill promises | CNN Business

New York CNN  — 

Gasoline prices are coming down, and President Donald Trump is happy to take credit for that. But he has little to do with it, experts say, and his policies could make is more expensive to increase domestic oil production from already record levels.

The price of a barrel of West Texas Intermediate, the benchmark used for US crude oil, is at $66.71, down 11% from the day after Trump took office. Gasoline prices haven’t fallen as fast, but they are approaching $3 per gallon. The national average for a gallon of regular stands

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Former JPMorgan and Barclays exec Jes Staley tells court he slept with Epstein assistant | CNN Business

Former Barclays boss Jes Staley had sex with a member of serial pedophile Jeffrey Epstein’s staff, the banker said in court as he...

How a trade war can quickly spiral out of control | CNN Business

New York CNN  —  It started with tariffs, but the trade war is quickly escalating beyond import taxes into...

Jamie Dimon changes tune on tariffs: ‘Uncertainty is not a good thing’ | CNN Business

CNN  —  Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a...