General Discussion

Bucky

(55,334 posts)

17. Gas prices are mostly a function of demand and were lower under Trump

Thu Jun 13, 2024, 11:31 AM

Jun 2024

Trump left the the whole economy so wrecked with covid that demand left has prices all the way down to $2.11/gallon in November 2020.

A year earlier, Nov 2019 gas was at $2.59 a gallon, nearly a dollar less than today ($3.46), but equal to $3.13 when adjusted for inflation to May 2024.

Of course that lower price under Trump was still demand-driven, and the US economy was in a mild recession for all of 2019, mostly driven by Trump's entirely optional trade war with China.

Sorry to nitpick, but remembering economics right is a thing with me

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