Gas prices are expected to rise sharply this year, but Donald Trump thinks a ten-year low for a single day is something he should get credit for.
On July 4th, gas prices dropped to an average $2.23 a gallon. It’s the lowest it has been on Independence Day in ten years.
So, of course, Trump bragged about it.
Gas prices are the lowest in the U.S. in over ten years! I would like to see them go even lower.
— Donald J. Trump (@realDonaldTrump) July 4, 2017
Keep in mind, we are only halfway through 2017, and one day does not equal one year.
Also, presidents do NOT control gas prices, something conservatives are always hypocritically pointing out when gas prices come down during a Democratic presidency or when gas prices are high during a Republican presidency. But when gas prices are low during a Republican presidency, conservatives throw that knowledge out the window and claim that the president did it.
Such is the case now.
But Trump had nothing to do with current gas prices. You see, the market has been flooded with oversupply from OPEC, which has driven the price of gasoline down over the last couple years.
In 2015, the national average price of gas dropped from $3.37 in 2014 to $2.35.
And last year’s Independence Day saw a gas price of $2.26 per gallon. That’s a mere three cent difference from the low that Trump bragged about yesterday.
You didn’t hear conservatives giving President Obama credit for that. Nor did they give Obama credit for the even lower national average of $2.20 per gallon in November 2016.
But, again, oversupply is the reason why we have cheaper gas right now. Once that supply is burned off, the price of gas will go back up and there’s nothing Trump can do about it. One thing he will do, however, is blame anyone and anything else for the rise. He certainly won’t be taking credit or bragging.
Featured image via Michael Reynolds-Pool/Getty Images