Trump is now doing for oil prices the same thing he did for health insurance prices, i.e. making them soar. U.S. crude oil rose 35.63% on Friday, to more than $90 a barrel. That was the “biggest weekly gain in the history of the futures contract dating back to 1983,” CNBC reported.
“The war has already brought traffic in the Strait of Hormuz, a critical shipping route for energy supplies, to a near standstill,” according to CNBC. Qatar’s energy minister fears crude prices as high as $150 per barrel if oil tankers are unable to pass through the Strait. That could “bring down the economies of the world,” Qatar’s energy minister Saad al-Kabbi reportedly said.
Since Trump started his latest war, the average price for a gallon of regular gasoline had already jumped nearly 27 cents since to $3.25, according to AAA data, CNBC also reported. That was as of Thursday.
The Trump family never seems to stop profiting from his second occupation of the White House. But despite his promise to lower prices on Day One, the rest of us never seem to stop shelling out more just to stand still.
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