Gas prices have been falling for over two months, but Democrats aren't out of the political woods on energy costs.
have been falling for over two months. But Democrats aren't out of the political woods on energy costs.Crude prices — the biggest variable in gas prices — have regained ground over the last couple of weeks after falling steeply in recent months.GasBuddy analyst Patrick De Haan tells Axios that if the oil price drop is over, for now, average U.S. prices should level out around $3.69 per gallon or maybe somewhat lower.
Gasoline prices are the most visible energy cost but hardly the only one. Axios' Matt Phillips reports thatU.S. natural gas prices briefly hurdled $10 per million British thermal units on Tuesday, the highest since 2008. They are up more than 150% this year.U.S. prices are nowhere near European levels, but they'll still almost certainly push electric and heating bills higher.
So keep an eye on the political impact of heating bills heading into the fall and winter, which could reinvigorate voter angst about rising costs of living, despite progress elsewhere on inflation.=The decline blunts a key political weapon for Republicans, the piece points out, but also quotes analysts saying gas prices are still a factor — especially if they go back up.It's just tea leaves, but that could suggest the cartel hopes current prices are something of a floor.
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