On April 9, 2025, 4:39 AM
U.S. gasoline futures slid 1.37% today, adding to a 13.3% decline since Trump’s tariff announcement on April 2, with prices reflecting the broader oil market rout.
Trump hailed the drop in gasoline prices as a consumer win, claiming it would tame inflation. However, experts counter that his tariffs—disrupting global trade and raising costs for goods—could stoke inflation instead, offsetting any short-term relief at the pump.
The debate underscores the uncertainty gripping energy markets as gasoline tracks oil’s fall amid recession fears and trade war escalation.
Natural gas prices are dropping in lockstep with oil, falling 1.72% on Monday to $3.77 per million British thermal units at the time of writing.
The decline mirrors the broader energy market slump, with WTI at $60 and Brent at $64, driven by Trump’s tariff rollout and recession fears.
The synchronized downturn reflects weakened demand expectations and heightened volatility across commodities, as global economic uncertainty continues to weigh heavily on energy markets.
The Kremlin pledged Monday to shield Russia, the world’s second-largest crude exporter, from a global “economic storm” battering oil markets.
Russia’s Urals crude also hit its lowest level since 2023, with prices nearing $50. The oil plunge threatens Russia’s budget, heavily reliant on energy revenues to fund its costly military campaign in Ukraine. Spokesman Dmitry Peskov said authorities are closely tracking the “tense and emotionally overloaded” situation to mitigate the fallout.
https://www.theghanareport.com/oil-prices-continue-to-fall/
