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Trump Official Ripped Over Labor Day Gas Price Fail
The Daily Beast • • business
Key Points:
- Treasury Secretary Scott Bessent predicted in July that gas prices would "maybe" return to $3 per gallon by Labor Day, a forecast that has proven inaccurate as prices have instead risen.
- As of Labor Day, the national average gas price stands at $4.15 per gallon, a record high for the holiday and significantly above the $3.83 average on July 2 when Bessent made his claim.
- Experts warn that gas prices may climb further in the coming months due to ongoing geopolitical tensions in Iran and Ukraine affecting global energy markets.
- Vice President JD Vance acknowledged Bessent’s cautious wording but noted that the prediction offers little comfort to Americans facing widespread inflation and higher living costs.
