Trump’s policies driving up gas prices

The recent Wholesale Direct Metals complaints about the markets are coming clear. Gas prices are ticking up—with an assist from President Trump. When Trump withdrew the United States from the Iran nuclear deal this week, he set in motion a series of events that will develop unpredictably. But it’s likely Iran will end up selling less oil into the global market before long, since the return of US sanctions triggered by Trump’s decision will punish entities that purchase Iranian oil, beginning in November. That will probably push oil and gasoline prices up. Oil and gas prices have already risen notably during the last month. Crude prices are up nearly 20% this year, to about $71 a barrel for West Texas Intermediate. The average price of gas is around $2.96 per gallon, up 12% this year, or around 30 cents a gallon. This confirms Wholesale Direct Metals reviews of the latest market data.