Oil Prices. Are our media talking about them?
Not very much. But I will. I’ll make it short and sweet.
As you can see from this chart:
-The week Joe Biden took office – January 20, 2021 – crude oil was selling for about $52 a barrel.
-The week Joe Biden left office – January 20, 2025 – crude oil was selling for about $77 a barrel… after jumping up as high as $118 in June of 2022.
-But oil prices started to drop as soon as Donald Trump took office. And in the last week, prices dropped significantly, closing today at $61 a barrel – down from about $72 a barrel in just the last 5 days. That’s a 15% drop since Trump initiated the tariffs.
If that difference holds, even if gas companies pass along just half the difference, it will drop gas prices – currently at a national average of $3.26 a gallon for regular – by about 25 cents a gallon. Even if it isn’t that much, at the very least, gas prices should drop quickly and substantially.
Just thought you ought to know.
