{"id":72315,"date":"2026-05-10T18:10:56","date_gmt":"2026-05-10T18:10:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/trump-tells-reporters-gas-is-way-down-us-pump-prices-say-otherwise-bitcoin-news\/"},"modified":"2026-05-10T18:10:56","modified_gmt":"2026-05-10T18:10:56","slug":"trump-tells-reporters-gas-is-way-down-us-pump-prices-say-otherwise-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/trump-tells-reporters-gas-is-way-down-us-pump-prices-say-otherwise-bitcoin-news\/","title":{"rendered":"Trump Tells Reporters Gas Is &#8216;Way Down&#8217; \u2014 US Pump Prices Say Otherwise \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Trump claimed gas prices fell \u201cvery substantially\u201d on May 8, but AAA data shows they rose to $4.52\/gal that day.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The U.S.-Iran conflict disrupted roughly 20% of global oil supply, pushing Brent crude past $100\/barrel in May 2026.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">EIA forecasts Brent could peak near $115\/bbl in Q2 2026 before easing if the Strait of Hormuz tensions resolve.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>U.S. <span>Gas<\/span> Prices Are up $1.40 From Last Year<\/h2>\n<p>Trump <a href=\"https:\/\/x.com\/unusual_whales\/status\/2053475393957515638?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">made the claim<\/a> during a press exchange this week when reporters asked about his Middle East strategy amid pump prices exceeding $4.50 per gallon. He pushed back, telling reporters that <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-gas\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">gas<\/a> prices had fallen \u201cvery substantially\u201d that day and were \u201cway down.\u201d However, <a href=\"https:\/\/gasprices.aaa.com\" target=\"_blank\" rel=\"noopener noreferrer\">AAA data<\/a> shows prices held near elevated levels before a 1-cent easing \u2014 well short of any substantial decline.<\/p>\n<p>The numbers tell a different story. At Trump\u2019s January 2025 inauguration, the national average sat near $3.05 to $3.20 per gallon. By late 2025 and early 2026, prices had pulled back to a low of around $2.81 in January 2026. Since then, the trajectory has moved in one direction.<\/p>\n<p>March 2026 brought a monthly average of $3.64 per gallon. April climbed to roughly $4.10. By early May, prices had crossed $4.45 to $4.58, depending on the source. The most recent week alone added about 25 cents to the national average. Compared to May 2025, when regular averaged $3.14 to $3.26 per gallon, drivers are now paying more than $1.40 extra at the pump.<\/p>\n<p>The primary driver is the ongoing <a href=\"https:\/\/news.bitcoin.com\/tucker-carlson-calls-markets-fake-after-60-days-of-middle-east-conflict\/\">U.S.-Iran conflict<\/a>. Military activity tied to Strait of Hormuz tensions disrupted an estimated 20% of global oil supply flows. <a href=\"https:\/\/www.tradingview.com\/symbols\/UKOIL\/?exchange=TVC\" target=\"_blank\" rel=\"noopener noreferrer\">Brent crude<\/a> crossed $100 per barrel, with <a href=\"https:\/\/www.tradingview.com\/symbols\/WTI\/?exchange=BLACKBULL\" target=\"_blank\" rel=\"noopener noreferrer\">WTI<\/a> trading near $94 to $95. Those crude levels feed directly into retail prices, since oil typically accounts for 50 to 60% of what consumers pay at the pump.<\/p>\n<p>The Energy Information Administration has <a href=\"https:\/\/www.eia.gov\/outlooks\/steo\/\" target=\"_blank\" rel=\"noopener noreferrer\">forecast<\/a> that Brent could peak near $115 per barrel in the second quarter of 2026 before easing, contingent on conflict resolution. The Brent-WTI spread has widened to $5 to $12 per barrel due to elevated shipping costs and supply route disruptions.<\/p>\n<p>Trump has offered forward-looking assurances throughout the conflict. He has told Americans that prices will \u201ccome crashing down\u201d on several occasions once fighting ends and cited abundant global oil supplies as a buffer. He has also referenced post-conflict targets as low as $2 per gallon. Those claims are speculative and depend on how quickly the <a href=\"https:\/\/news.bitcoin.com\/strait-of-hormuz-blockade-trump-says-no-ship-moves-without-us-navy-approval\/\">Strait of Hormuz<\/a> disruptions unwind.<\/p>\n<p>Presidents carry limited influence over short-term retail <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-gas\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">gas<\/a> prices. Crude markets, refining margins, taxes, and distribution costs determine what consumers pay. The Trump administration has deployed Strategic Petroleum Reserve (SPR) releases and Jones Act waivers to relieve some pressure, with mixed results.<\/p>\n<p>The 2026 price trajectory echoes the 2022 spike under the Biden administration, when Russia\u2019s invasion of Ukraine helped push the national average above $5 per gallon. Wars tend to put pressure on energy markets. Prices moderated between 2023 and 2025 before the current geopolitical shock reversed that trend.<\/p>\n<p><a href=\"https:\/\/gasprices.aaa.com\/2026\/05\/\" target=\"_blank\" rel=\"noopener noreferrer\">AAA data<\/a> shows no week-over-week decline in the period <a href=\"https:\/\/news.bitcoin.com\/trump-says-iran-conflict-over-nasdaq-sets-record-high-bitcoin-climbs-2-5\/\">Trump<\/a> referenced. Month-over-month, prices rose roughly 40 cents. Year-over-year, they are up more than $1.40. The EIA\u2019s weekly retail gasoline reports corroborate those figures.<\/p>\n<p>Trump has taken credit for the decline from Biden-era highs that occurred during the first year of his second term. That decline was real. But the current data does not support a claim that prices dropped this week, substantially or otherwise.<\/p>\n<p>Retail prices tend to follow crude with a lag of one to four weeks, and that prices historically rise faster than they fall \u2014 a dynamic sometimes called \u201crockets and feathers.\u201d If the conflict de-escalates and crude pulls back from current levels, consumers would likely see relief within weeks, not days.<\/p>\n<p> <!-- --><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/trump-tells-reporters-gas-is-way-down-us-pump-prices-say-otherwise\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Trump claimed gas prices fell \u201cvery substantially\u201d on May 8, but AAA data shows they rose to $4.52\/gal that day. The U.S.-Iran conflict disrupted roughly 20% of global oil supply, pushing Brent crude past $100\/barrel in May 2026. EIA forecasts Brent could peak near $115\/bbl in [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":72316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72315"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72315"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72316"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}