Sen. Bernie Sanders (I-VT) went after President Donald Trump on Wednesday after Trump, speaking at a rally in Texas, seemed to suggest that $5,000 hamburgers at his private Mar-a-Lago club in Florida were a reasonable benchmark amid record-high gas and diesel prices.

Bernie Sanders Points to 72% Diesel Price Rise

In a post on X, Sanders quoted a clip of Trump telling the crowd that for $5,000, people would just be able to buy a hamburger at the resort. The Vermont Independent then laid out the numbers: under the Trump administration, diesel prices were up 72%, gas prices jumped 53% and beef rose 17%.

“Trump’s message to working-class voters? If you can’t afford groceries, maybe you should try a $5,000 hamburger at Mar-a-Lago,” Sanders said. “This is how out of touch with reality this guy is,” he added.

According to American Automobile Association (AAA) data, the national average price of gas on Wednesday was $4.2471/gallon, marginally lower than Tuesday’s $4.2661/gallon. Diesel remains elevated at $6.3499/gallon on Wednesday, a 0.22-cent decline from Tuesday’s $6.3521/gallon average.

Trump Touts Venezuela Oil

During the same Texas rally, Trump said the U.S. had received a shipment of 1 million barrels of Venezuelan oil and claimed the country held an oil supply vast enough to rival multiple countries combined. He also floated the idea that Venezuela could one day become the 51st state, even holding gubernatorial elections.

Cathie Wood Sees Oil Price Drop

Meanwhile, investor Cathie Wood, founder of ARK Invest, said crude oil prices on the global market could drop to the $30-$35 range as transportation, which accounts for 57% of oil use, shifts toward electric mobility.

But moving oil out of the Middle East remains uncertain as reports of vessel strikes in the Persian Gulf and the Gulf of Oman continue to emerge. Obsidian Risk Advisors‘ managing principal Brett Erickson, following news of the strikes, said Iran has “always” had the ability to control Strait of Hormuz traffic.