Exclusive: Trump adviser ties high gas prices to refining
Summary
President Donald Trump’s energy adviser, Jarrod Agen, said the president is focused on keeping gas prices low but accepts that higher prices are needed in the long term to prevent Iran from getting nuclear weapons. Agen explained that a key reason for high gas costs is limited refining capacity in the U.S. and other countries, even though oil supply is available.Key Facts
- The national average gas price is about $4.48 per gallon, up from $3.18 last year.
- President Trump’s main energy focus is on affordable gas and electricity for Americans.
- Higher gas prices are partly due to strained oil refining capacity, not oil supply shortages.
- Refining capacity has dropped in places like Russia and China, contributing to price increases.
- Tensions in the Iran war and disruptions in the Strait of Hormuz affect global oil markets.
- The administration is considering using the Defense Production Act to improve refining infrastructure.
- Diesel prices recently hit over $6 per gallon, increasing costs for households and inflation risks.
- President Trump stated he does not recognize the recent election results in Iran.
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