I think the president is absolutely paying a political price for $4 gasoline right now, especially as the midterm narrative is already starting much earlier than usual. But what happens between now and November is still unknown. If oil prices fall back to the $70–$75 range, gas prices could stop being a major issue altogether. The challenge is timing even if oil drops immediately, there’s still oil sitting in inventory, tankers already on the water, and supply moving through refineries at higher prices. Realistically, it would take about three weeks for consumers to fully feel lower gas prices at the pump.

I think the president is absolutely paying a political price for $4 gasoline right now, especially as the midterm narrative is already starting much earlier than usual. But what happens between now and November is still unknown. If oil prices fall back to the $70–$75 range, gas prices could stop being a major issue altogether. The challenge is timing even if oil drops immediately, there’s still oil sitting in inventory, tankers already on the water, and supply moving through refineries at higher prices. Realistically, it would take about three weeks for consumers to fully feel lower gas prices at the pump. ♬ original sound - Mr. Wonderful

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