Trump promised Americans cheaper gas thanks to oil from Venezuela
U.S. President Donald Trump stated that the country will receive its first shipment of Venezuelan oil, totaling one million barrels. He claims that the shipment will not cost American taxpayers any money and promises a rapid drop in gasoline and diesel prices. Trump also announced a major oil deal with Venezuela, which, he said, could become the largest in the world.
The United States will receive one million barrels of Venezuelan oil at no cost to American taxpayers. The U.S. president called this shipment just the beginning of larger deliveries. He stated that billions of barrels could eventually arrive in the country. “This is just the first shipment of billions of barrels to come,” Trump wrote. According to him, the oil will be delivered to Corpus Christi, Texas. The president plans to hold a rally there. At the same time, factors such as refining, transportation, and the situation on the domestic market must be taken into account. Therefore, the actual impact of Venezuelan shipments on prices has yet to be assessed.
Trump called the shipment the result of a military operation
The U.S. president also stated that the agreements were made possible by an “extremely successful military operation” in Venezuela and the restoration of relations between the two countries. In addition, Trump announced what he called “the largest oil deal in world history.” However, he did not provide any details of this agreement. In particular, there is currently no detailed information on the total volumes of future shipments, their timing, or the financial terms.
Thus, the president’s statements outline U.S. plans to obtain Venezuelan oil, but by themselves do not yet confirm either the scale of future cooperation or the extent to which it will affect consumer prices.
Why the issue of fuel is important to Trump
The issue of gasoline prices has practical significance for Americans, as it affects drivers’ daily expenses, businesses’ transportation costs, and the prices of goods and services. Therefore, the promise of lower fuel prices could become an important issue in U.S. domestic politics.
The U.S. midterm congressional elections are scheduled for November 3. Americans will elect members of the House of Representatives and some senators. The results of these elections will determine the balance of power in Congress and how easily the Trump administration will be able to push through its policies.
Against this backdrop, the president is emphasizing the potential economic benefits of cooperation with Venezuela. At the same time, whether the announced plans will translate into actual deliveries in the promised volumes and whether they will lead to a noticeable drop in fuel prices will depend on further agreements and the situation on the oil market. Donald Trump wrote about the upcoming shipment on his social media platform, Truth Social.
On October 27, at a campaign rally in Corpus Christi, Texas, U.S. President Donald Trump suggested that Venezuela could become the 51st state of the United States. He also said that in that case, the country could elect a governor instead of a president.
The average retail price of gasoline in the U.S. during Donald Trump’s time in office was $3.472 per gallon ($0.92 per liter), which exceeded the average for all four years of Joe Biden’s presidency ($3.471 per gallon).
