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Trump's Gas Price Pivot: From 'Lower Prices' to 'Higher Is Good' Sparks Political Firestorm

MarketDash
Washington, D.C., USA – April 26, 2018: Anthony Scaramucci, Former White House Official
Anthony Scaramucci and Democratic leaders blast Trump's shifting stance on energy costs amid the Iran war, as economists warn of inflation and growth risks from soaring oil prices.

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So here's a fun political puzzle: what happens when a president who built part of his brand on promising cheap gasoline suddenly starts talking about how higher prices are actually good for America? According to Anthony Scaramucci, the answer is that you lose independent voters and the "principled right"—and get accused of gaslighting the entire country.

The former White House communications director went after President Donald Trump on Thursday, calling out what he sees as a complete reversal on energy policy. "Trump now gaslighting about gas prices," Scaramucci wrote on X. "‘Higher gas prices are good for America!' After previously gaslighting about lowering gas prices."

This wasn't just random Twitter drama. Scaramucci was responding to Trump's own post on Truth Social where the president noted, "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money."

Now, if you're thinking this sounds like a pretty dramatic shift in messaging, you're not alone. The Associated Press reported that Trump has indeed pivoted from touting low gas prices to portraying expensive oil as a benefit—all while the administration struggles to explain how it plans to reopen the Strait of Hormuz. That critical shipping lane has become a parking lot for oil and liquefied natural gas tankers since the war with Iran disrupted everything.

The numbers tell the story better than any politician could. Remember when Trump was citing $2.30 gasoline last month? Well, the national average has climbed more than 50% since then to $3.60 a gallon. That's the kind of jump that gets people's attention when they're filling up their tanks.

Democrats were quick to pounce on the messaging shift. California Governor Gavin Newsom offered some sarcastic reassurance on X: "Don't worry, America! Your gas prices are going up — but Trump is making lots of money. So it's ok."

Representative Don Beyer of Virginia took a more direct approach, criticizing Trump's acceptance of higher fuel prices and calling for an end to what he described as a "stupid war" to ease costs for consumers. The implication was clear: when oil prices go up, Trump's big oil donors stand to make "a lot of money," as Beyer put it, while regular Americans foot the bill at the pump.

But this isn't just political theater—there are real economic consequences at play. According to the Associated Press, Goldman Sachs (GS) said Thursday that based on its forecasts and historical experience, higher oil prices would lift inflation, slow growth and push unemployment higher by year-end. Think of it as an unwelcome triple threat for the economy.

At the time of writing, WTI crude futures were trading around $95 per barrel after a sharp two-day rally. That's the market's way of saying it believes high prices might be sticking around for a while.

So what we have here is a classic case of political messaging colliding with economic reality. A president who once promised cheaper energy is now framing higher prices as a national benefit, while critics accuse him of abandoning consumers to help oil industry allies. Meanwhile, economists are warning that everyone might lose if those high prices stick around too long.

It's enough to make you wonder: when the gas pump becomes a political battleground, who really wins?

Trump's Gas Price Pivot: From 'Lower Prices' to 'Higher Is Good' Sparks Political Firestorm

MarketDash
Washington, D.C., USA – April 26, 2018: Anthony Scaramucci, Former White House Official
Anthony Scaramucci and Democratic leaders blast Trump's shifting stance on energy costs amid the Iran war, as economists warn of inflation and growth risks from soaring oil prices.

Get Market Alerts

Weekly insights + SMS alerts

So here's a fun political puzzle: what happens when a president who built part of his brand on promising cheap gasoline suddenly starts talking about how higher prices are actually good for America? According to Anthony Scaramucci, the answer is that you lose independent voters and the "principled right"—and get accused of gaslighting the entire country.

The former White House communications director went after President Donald Trump on Thursday, calling out what he sees as a complete reversal on energy policy. "Trump now gaslighting about gas prices," Scaramucci wrote on X. "‘Higher gas prices are good for America!' After previously gaslighting about lowering gas prices."

This wasn't just random Twitter drama. Scaramucci was responding to Trump's own post on Truth Social where the president noted, "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money."

Now, if you're thinking this sounds like a pretty dramatic shift in messaging, you're not alone. The Associated Press reported that Trump has indeed pivoted from touting low gas prices to portraying expensive oil as a benefit—all while the administration struggles to explain how it plans to reopen the Strait of Hormuz. That critical shipping lane has become a parking lot for oil and liquefied natural gas tankers since the war with Iran disrupted everything.

The numbers tell the story better than any politician could. Remember when Trump was citing $2.30 gasoline last month? Well, the national average has climbed more than 50% since then to $3.60 a gallon. That's the kind of jump that gets people's attention when they're filling up their tanks.

Democrats were quick to pounce on the messaging shift. California Governor Gavin Newsom offered some sarcastic reassurance on X: "Don't worry, America! Your gas prices are going up — but Trump is making lots of money. So it's ok."

Representative Don Beyer of Virginia took a more direct approach, criticizing Trump's acceptance of higher fuel prices and calling for an end to what he described as a "stupid war" to ease costs for consumers. The implication was clear: when oil prices go up, Trump's big oil donors stand to make "a lot of money," as Beyer put it, while regular Americans foot the bill at the pump.

But this isn't just political theater—there are real economic consequences at play. According to the Associated Press, Goldman Sachs (GS) said Thursday that based on its forecasts and historical experience, higher oil prices would lift inflation, slow growth and push unemployment higher by year-end. Think of it as an unwelcome triple threat for the economy.

At the time of writing, WTI crude futures were trading around $95 per barrel after a sharp two-day rally. That's the market's way of saying it believes high prices might be sticking around for a while.

So what we have here is a classic case of political messaging colliding with economic reality. A president who once promised cheaper energy is now framing higher prices as a national benefit, while critics accuse him of abandoning consumers to help oil industry allies. Meanwhile, economists are warning that everyone might lose if those high prices stick around too long.

It's enough to make you wonder: when the gas pump becomes a political battleground, who really wins?