President Donald Trump described the idea of paying Americans less than $ 3 to gasoline for gasoline during his speech in a tariff tariff. Although crude oil markets have declined, fuel costs remained stubborn than this level and look like this – at least at the present time.
“Gasoline is less than $ 3, and people began buying things and living again,” Trump told the public in the Roses Garden at the White House on Wednesday afternoon. But the average gasoline prices in the United States measured by the American Automobile Association was $ 3.26 per gallon while delivering the speech, and the highest 13 cents of what it was when he took office on January 20. Gasoline has not cost American drivers less than $ 3 per average on average since 2021, when the American economy has emerged from the depths of Covid -19 – the travel request was determined.
However, Trump’s new drawings had an immediate impact on future fuel contracts. Future gasoline contracts fell to 8.2 % and future diesel contracts decreased by 7 % on Thursday as part of a wider defeat. Raw future contracts in New York decreased by 8 %.
ThoughoilPrices are the largest factor in the cost of Gallon’s gasoline production in the United States. Decreases in the futures market usually do not bring to consumers in the pump, especially with the peak demand season, just around the corner.
Al -Masafis gets the amount of the discount that they will happen in what is known as the shelf prices, and the amount they receive fuel sellers such as fuel stations and wholesalers. These producers and fuel vendors do not have little incentives to drop the prices of pumps based on one day of trading in volatile futures markets, especially since they now have the best margins. Nevertheless, the constant decrease in crude can eventually flow into retail gasoline.
But in the meantime, the United States is heading to the peak leadership season, which lasts for a week’s memorial holiday in May during the Day of Workers in September, when the Americans reached the way for summer vacations. The demand and prices of fuel increases in this period with increased demand and refining refineries turn to making the most expensive gasoline degree in the most warmer weather to meet emissions regulations.
Some fuel consolation is that fuel prices, despite their decrease from $ 3 for gasoline, are now cheaper than they were in the past three years in the preceding summer period. The gasoline prices were on Wednesday, when Trump took over the platform, about 30 cents, the cheapest gallon from the same day in 2024.
This story was originally shown on Fortune.com
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