On Wednesday’s “Fox News Rundown” podcast, Fox Business Network host, Fox News Contributor, and former Trump economic adviser Larry Kudlow noted that prices haven’t actually fallen in recent months, but the rate of growth has slowed and noted that gas prices are still higher than the pre-pandemic numbers under the Trump administration.
Kudlow said, [relevant remarks begin around 4:05] “The reality is, prices are still much higher than they were two-and-a-half years ago. You could take, here’s an example: gasoline prices.”
Kudlow acknowledged that while prices are lower than they were a year ago, “at $3.58 or whatever they are, prices are still up from the $2 or slightly less that Mr. Biden inherited from Donald Trump. So, on the rate of change, you can argue it’s slowed, but the fact is, prices at the pump are still a lot higher than they were a couple of years ago.”
Host Dave Anthony then noted that gas and oil prices plunged to very low levels in 2020 due to the pandemic. Kudlow responded, “Well, I’m not looking at the COVID collapse, I’m saying to you that, because, under Donald Trump, we unlocked the spigots of oil and gas, you had plenty of gasoline on the market and the price of gasoline — as I say — was averaging about $2 a gallon pre-pandemic and post-pandemic.”
Follow Ian Hanchett on Twitter @IanHanchett
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