Price At the Pump: What Does Trump 2.0 Mean?

Patrick DeHaan with Gasbuddy.com says oil prices have been all over the map this month as Washington D.C. transitions from one Administration to another.

“[With] President Trump, we've seen a lot of volatility and policies. We've seen some big movements in the price of oil,' DeHaan said.  "Oil prices jumped from $68 in early December to nearly $80 in mid-January before cooling back down to $74 a barrel.  Like I said, the volatility is likely to continue until we see the administration settle in.” 

Oil prices traded lower in much of Monday’s action, only to rebound Tuesday, trading around $74 per barrel for West Texas Crude.

The Stock Exchange has seen a sizable rally with the return of Donald Trump to the White House.  How are oil investors interrupting Trump 2.0?

“Well, you know, I think it's going to be a net good thing for the long run, but in the short term, there's been a lot of policy shifts that have caused a lot of uncertainty," DeHaan said.  "And I think that's what we're seeing in, in the market, right. And so, from that perspective. I think there's a little bit of anxiety over the short-term. Oil companies are really not sure what policies may be good, what policies may not be good. So, I think there is concern there for the time being.”

One point of concern, DeHaan noted, is the ongoing tariff talks toward Canada, which is a large provider of oil to the U.S.  How could that impact what Americans pay at the pump in the coming months?  Find out by listening to our Price at the Pump Podcast with DeHaan:

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