Gas Price Relief Fades Four Months Before Election

Punchbowl News: “The problem for Hill Republicans is that they’ve been hearing Trump say this same line for months already, with no permanent peace deal reached so far. They didn’t love Trump’s memorandum of understanding with Iran last month — signed by the president to great fanfare in Versailles — but it ended a growing U.S. economic crisis over gas prices that threatened all Republicans.”

”Now oil prices have already begun to rise again, with Brent crude futures nearing $80 per barrel on Wednesday before settling back. Average gas prices had fallen to under $3.80 per gallon nationally in the wake of the June 14 ceasefire, but those may be heading higher again.”

”Higher gas prices mean higher inflation. Higher inflation means higher interest rates and slower economic growth, which is definitely not what vulnerable House and Senate Republicans need less than four months from Election Day.”