Trump makes false claim about gas prices

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00:00Trump makes false claim about gas prices.

00:03Despite President Donald Trump's claim that gas prices have fallen to their lowest level

00:07in two decades, data reveals that Americans are still paying more than they did in 2005.

00:13Speaking at the America Business Forum in Miami, Trump claimed that gasoline prices

00:17have plummeted to the lowest in two decades.

00:21In reality, the national average sits at nearly $3.10 per gallon — slightly above

00:26last year's level, according to GasBuddy.

00:29Patrick DeHaan, GasBuddy's head of petroleum analysis, noted on X that prices would need

00:34to decline below $3 to $2.96 on average to fall to its lowest level since 2021.

00:42GasBuddy also reports that the $3.10 per gallon national average still remains higher than

00:48gas prices in November 2005.

00:50Similarly, figures from the Energy Information Administration, part of the Department of

00:55Energy, confirm that the average retail price for all types of gas rose to $3.15 this month.

01:02This is significantly higher than the $2.42 average recorded in November 2005.

01:09In recent weeks, Trump has repeatedly claimed that Americans will soon pay just $2 per

01:14gallon for gas.

01:15DeHaan told MarketWatch that the likelihood of prices dropping below $2 is extremely low,

01:21perhaps one in a million.

01:23According to AAA, Mississippi offers the lowest gas prices in the country, with regular fuel

01:28averaging $2.60 per gallon.

01:31At the other end of the spectrum, California tops the list for the highest prices, with

01:36averages reaching $4.67 per gallon.

01:40In October, national gas prices fell below $3 per gallon for the first time since December,

01:46marking the lowest point of Trump's second term.

01:49GasBuddy said the decrease was driven by the organization of the petroleum exporting country's

01:54shift from production cuts to increased oil output in 2023.

01:59Since then, prices have climbed around $0.10.

02:02According to AAA, crude oil remained relatively low due to higher supply and lower demand, and

02:08gas prices could remain low or drop further during the Thanksgiving travel period.