I'm sorry if you live in California, because this is amazing news:
AMAZING.
The White House credited Trump's strengthened ties with Saudi Arabia, less energy regulation, and more drilling leases - a stark pivot away from Biden's policies.
If you recall, Biden released vast quantities of oil from America's strategic reserves (several times) as temporary stop-gaps to cover for his policies that increased gas prices.
Beyond Trump's policies, several other factors are working in Americans' favor.
Global oil reserves are at a 4-year high.
OPEC has maintained high output this year, as have non-OPEC nations.
Gasoline demand is at a 4-month low as summer travel comes to an end.
Refineries are allowed to sell cheaper, less regulated winter blends of fuel after September 15.
Will the low prices last? I dunno, though the U.S. Energy Information Administration (EIA) predicts an additional 6% drop in 2026 if market conditions hold steady.
Get out there and enjoy that petrol while it lasts!
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