Trump's Efforts to Lower Fuel Prices Continue Ahead of Elections

In the U.S., the rise in fuel prices is negatively affecting the transportation sector, farmers, and people who drive daily. Especially, with the onset of tensions between the U.S. and Israel, the prices of gasoline and diesel have nearly doubled, causing great concern among the public. With only a few days left until the elections, former President Donald Trump has proposed various measures to lower fuel prices. However, the effectiveness of these efforts remains a question. In statements made this week, Trump introduced a regulation to exempt "diesel" fuel marked with red paint from federal taxes. This move highlights the importance of fuel prices in the election campaign while also bringing to light the public's concerns over rising living costs. Polls indicate that dissatisfaction with Trump's economic management is increasing. Particularly, conflicts in the Middle East, which restrict oil supply, are further complicating the situation by driving up diesel and gasoline prices. Analysts state that the steps taken by Trump are effective. The G7 countries, under Trump's pressure, decided to release 100 million barrels of oil and diesel. Although this announcement has led to a slight decrease in prices, experts emphasize that this situation is a temporary solution. As long as disruptions in energy exports continue, more oil reserves will need to be emptied to meet market demand. This means that prices could rise again. Trump has also expressed his thoughts on suspending federal taxes on gasoline. While some states have taken steps to reduce gasoline taxes, a change at the federal level requires Congressional approval. However, this situation may face challenges during the election period. Therefore, the extent to which Trump's efforts will be successful and how voters will be affected by this situation will become clear in the coming days.

Source: BBC Business