Tag: Gas Prices

Peace Deal Number 39, CPI 4.2%

The Consumer Price Index was up 0.5% month-over-month in May, for an annual rate of 4.2%, highest in three years and up from 3.8% in April, the Labor Department reports. [Bureau of Labor Statistics] 

•Scroll down this column for President Trump’s reaction.

Trump Goes to 39 – CNN counts 39 times President Trump has announced an impending peace deal with Iran since the beginning of the war at the end of February. As with many of the previous 38 such presidential announcements, Thursday’s was a reversal of Trump’s threat to invade Iran by land and take over energy facilities including Kharg Island.

In the face of Trump’s most strident pronouncement to date, the punditocracy was more dubious than ever and Iran’s leadership denied any impending deal. 

This deal is another Memorandum of Understanding, and the art of Trump’s dealmaking apparently relies on his administration’s making new demands just as a deal is about to be signed. 

Weekend diversions … Not to say President Trump won’t Truth Social another coming bombing campaign and MOU or two over the weekend, but he turns 80 on Flag Day, Sunday, and he has bigger plans. The president celebrates his 80th with UFC Freedom 250, the Ultimate Fighting Championship event on the White House lawn beginning 8 p.m. Eastern time Sunday (watch live on Paramount!).

It will be a big night for the Trump family in many ways – The Athletic reported in May that on March 25, the president purchased between $15,000 and $50,000 worth of TKO Holding Group, according to his required May 8 stock trading disclosure with the US Office of Government Ethics. 

TKO is parent of the UFC and World Wrestling Entertainment. Trump says his family handles stock trades for him.

Not related to Flag Day/Trump’s birthday party, but related to the war on Iran, The New York Times, owner of The Athletic, reports that in February, Trump purchased between $1 million and $5 million in stock in the Texas computer company, Dell. In last May, the Pentagon announced a $9.7 billion contract with Dell.

•••

De-NATO’d? – The US plans to significantly cut the number of aircraft and warships made available in Europe for North Atlantic Treaty Organization operations, two senior officials have told The New York Times. Planned cuts include:

•F-16 and F-15E fighter jets from 150 currently down to 100.

•Fewer maritime reconnaissance aircraft, from 26 down to 15, and a cut of all eight aerial refueling tanker jets previously available to Europe.

•Relocating a missile-launching submarine and an aircraft carrier, plus several warships and “scores” of jets.

•Reallocation of one of two groups of bombers previously assigned for Europe’s defense.

Germany’s Die Welt previously had published some of these details, according to the NYT.

•••

More Qualified than Pulte – Amidst widespread bipartisan opposition to Tulsi Gabbard fill-in and shopping mall scion Bill Pulte as acting director of national intelligence, President Trump Truth Socialed Thursday that Manhattan US Attorney Jay Clayton is his nominee to take the position permanently (Politico). Trump’s social media post came in after the House and Senate left the Capitol for the weekend, so the confirmation process certainly will not come soon enough. 

Senate leaders did get their early takes in, with Majority Leader John Thune (R-SD) praising former Securities and Exchange Commission Chairman Clayton for having  “a great reputation as being an incredibly competent manager.” 

What greater praise could there be?

Conversely, Minority Leader Chuck Schumer (D-NY) said the notion of Clayton replacing fill-in Pulte would not move quickly on reauthorizing the Foreign Intelligence Surveillance Act. 

“It doesn’t matter what they do,” Schumer said. “Pulte has got to be gone.” –TL

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THURSDAY 6/11/26

UPDATE: Negotiations On Again, Again? – President Trump has called off Thursday’s strikes on Iran, again, claiming on social media progress made in negotiations with the Islamic Republic, The New York Times reports. Iran did not immediately confirm, however, Trump’s post that discussions “have been brought to the highest level of Iranian leadership and approved.”

Venezuelaing Iran – Makes sense that the foreign intervention the Trump administration figures is its most successful to date remains the model for all foreign interventions to follow.

With negotiations for a permanent deal apparently falling apart, President Trump says the US will strike Iran “VERY HARD” Thursday night, The Wall Street Journal reports.

The two sides have been trading strikes since a US Army Apache attack helicopter was downed Monday (with both crew members escaping unscathed), ending the ceasefire. On Wednesday, the US military apparently destroyed a drinking water facility on Iran’s southern coast, according to a New York Times analysis. US Central Command posted on X-Twitter that it has conducted attacks near the Strait of Hormuz “with precision munitions from US Air Force and Navy fighter jets.”

Trump’s Sisyphean quest to sign a deal with Iran, announced ad infinitum these past 14 or 15 weeks remains allusive. The US “in the not too distant future” will be taking Kharg Island, the main export hub off Iran’s southern coast, he said, “and assume total control of their Oil and Gas Markets, much like we have in Venezuela, which is working out brilliantly for both Venezuela and the United States of America.”

•••

He Loves It – When a reporter asked President Trump in the Oval Office for a reaction to May’s 4.2% CPI, the president said this: “You know what I really love? I really love the inflation.”

Perhaps Americans have become too accustomed to the president’s eccentric syntax as he attempts to shift the conversation from reporters’ probing questions to MAGA-friendlier subjects. That would explain Trump’s expansion on loving inflation he had promised as a candidate to bring down to nothing, in an exclusive interview with the New York Post: “I love the inflation number because of what I’m talking about. The numbers are going to be phenomenal because of what’s showing is that despite the fact we’re in a war, the numbers are much lower than anticipated, and when we’re out of that war, the numbers will be at lower numbers than they were before it started.”

Economist Claudia Sahm told NPR’s Steve Inskeep on Morning Edition Thursday, “’It could be worse’ is a really tough sell.”

•••

A Bit More Gas Relief – Will fuel prices “drop like a rock” if President Trump carries through with his threatened takeover of Iran’s oil and gas markets? We may soon find out. Meanwhile, the national average price for a gallon of unleaded regular continues to click down, according to AAA, at $4.129 Thursday, down 2.2 cents from Wednesday. That’s $1.156 less affordable than on February 26. Diesel came down 2.4 cents to $5.279, up $1.491 since the beginning of the war. –TL

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WEDNESDAY 6/10/26

It’s Not Over – That peace deal Iran has been on the brink of signing with the US is unlikely soon, as President Trump Truth Socials his anger over the shooting down of a US Army Apache attack helicopter near the Strait of Hormuz.

“They’ve taken too long to negotiate a deal that would have been great for them. Now they have to pay the price!!!” Trump TS’d Wednesday morning, hours after the US Military said it hit targets in Iran in a “proportional response” to the attack on the Apache, The New York Times reports.

Iran has not accepted blame for the Apache’s downing, in which its two crew members were saved, unscathed, by a drone boat. 

•••

Platner to Take on Collins – Big news was Maine Democrats choosing Graham Platner, even though his one serious competitor, Gov. Janet Mills, backed out of the race earlier this year because she had a hard time raising sufficient funds, according to The New York Times. Despite the lack of competition, Platner took just 72% of the vote according to The Associated Press, with Mills, who has not yet congratulated the former oyster farmer, grabbing 20%.

Platner faces incumbent Republican Sen. Susan Collins, who occasionally casts an anti-Trump vote though it appears only when Senate passage of Trump’s agenda is guaranteed anyway. In his victory speech Tuesday, Platner said Collins has voted in Trump’s favor 95% of the time. An upset of Collins’ campaign for a sixth Senate term (she’s also chair of its Appropriations Committee) is considered crucial to the Democratic Party overturning its majority.

Writing in The Bulwark May 5, Jonathan V. Last called Platner “the post-Trump figure” and said he has a one-in-three chance of nabbing the 2028 Democratic nomination for president.

This was before the latest revelations that several of Platner’s girlfriends said he has a “toxic” personality.

Perhaps this latest in a series of revelations is Platner’s Access Hollywood tape moment, of sorts. Maine’s Democratic Senate candidate also has faced reports that he had a Nazi-esque skull & crossbones tattoo, since covered by a benign tattoo, and allegations that he sent sexually explicit text messages while married.

A Marine Corps veteran who served three tours in Iraq, Platner speaks of redemption and said in his victory speech he tries “to be a little bit better and a little bit kinder than the day before.” Certainly not Trump-like.

But Platner, a progressive who has had the backing of Sen. Bernie Sanders (I-VT) and Rep. Ro Khanna (D-CA) since early in his campaign, does have a two-word name for whom he is fighting for the voters of Maine, much like Trump has used the two-word term “deep state.”

Platner's "deep state" is the “ruling class.” –Compiled and edited by Todd Lassa

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WEDNESDAY 6/10/26

Iran War, Week Seven

Arch d’Trump is GO – The Commission on Fine Arts, hand-picked by the White House, Thursday unanimously approved the president’s massive triumphal arch in Washington near Arlington National Cemetery, Politico reports.

FRIDAY 4/17/26

UPDATE: The Strait of Hormuz is “fully open” to all commercial vessels according to a Truth Social post by President Trump and an X-Twitter post by Iran Foreign Minister Abbas Araghachi, The Associated Press reports Friday.

But… About 12 minutes following the above posts, Trump Truth Socialed that the US blockade of Iranian ports remains UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE. …

THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED.

Meanwhile … New York Stock Market futures indicate a record day ahead as crude oil prices drop 10%, AP reports.

•••

Ceasefire Upon Ceasefire – Israel’s 10-day ceasefire on Lebanon announced Thursday appears to be holding, NPR’s Morning Edition reports, as thousands of families displaced from Southern Lebanon by the fighting between Israel and Hezbollah are returning to their homes, according to The New York Times. The two-week truce between the US and Iran due to end next week extends to Lebanon, Tehran said, building hopes the new ceasefire could remove a major hurdle to ending the war. 

Meanwhile, President Trump says he could attend peace talks soon with Iran in Islamabad, Pakistan.

•••

Holy War – In his press conference Thursday, war/Defense Secretary Pete Hegseth compared “the legacy, Trump-hating press” (and not others, presumably MAGA-right bloggers and influencers) with the pharisees who persecuted Jesus. 

Hegseth, who frequently quotes scriptures, earlier at a Pentagon prayer service repeated word-for-word Samuel L. Jackson’s Jules Winnfield-interpretation of Ezekiel 27:17 in Quentin Tarantino’s Pulp Fiction. 

On NPR’s Morning Edition former Republican congressman and Obama administration Defense Secretary Leon Panetta told A Martinez that we all have religious beliefs, but a Defense secretary should not impose his beliefs on young soldiers.

“It confuses the mission by introducing that element,” Panetta said. 

Hegseth’s mission, in other words, seems to be Christian Nationalism v. Islamic Republic.

On the blockades … Panetta also told Martinez “there was no question,” his Defense Department and others pre-Trump planned for enemy closure of the Strait of Hormuz. “That was all in the plan for war with Iran,” he said.

•••

AAA National Average Unleaded Regular, Friday: $4.076 per gallon, down 3.2 cents from Thursday, up $1.079 over February 26. Diesel: $5.593 per gallon, down 2.1 cents from Thursday, up $2.331 over February 27. --TL

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THURSDAY 4/16/26

UPDATE: Lebanon, Israel Agree to Ceasefire – Lebanese and Israeli diplomats have agreed to a 10-day ceasefire after meeting in Washington earlier this week, The Hill reports. President Trump Truth Socialed Thursday he had an “excellent conversation” on the phone with Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun and has invited him to Washington to work out a permanent peace deal.

Hegseth Warns Iran Again – Iran should “choose wisely” or face US military “maximally postponed” to resume attacks, war/Defense Secretary Pete Hegseth said in a Pentagon briefing Thursday, The Wall Street Journal reports. Hegseth told reporters the US blockade will continue as long as necessary, and Chairman of the Joint Chiefs of Staff General Dan Caine said US military will “actively pursue” dark-fleet vessels aiding Iran, even those outside the Persian Gulf. 

Ships sanctioned by the US already are subject to boarding, search and seizure according to United States Naval Forces Central Command, though up to now only those ships entering or exiting Iranian ports.

•••

Trump Threatens Powell Again – President Trump threatened to fire “incompetent” Federal Reserve Chairman Jerome Powell – whom he nominated during his first term – in an exclusive interview Wednesday with Fox Business Mornings With Maria host Maria Bartiromo. Powell says he will remain Fed chairman past May if Trump’s nominee to succeed him, Kevin Walsh, is not confirmed by the Senate in time. What’s more, Powell’s seat on the Fed board runs to 2028. 

Sen. Thom Tillis (R-NC) says he will “oppose the confirmation of any Federal Reserve nominee, including for the position of chairman, until the DOJ’s inquiry into Chairman Powell is truly and transparently resolved.”

The president plans to advise US Attorney for the District of Columbia Jeanine Pirro (who is actively campaigning for the attorney general seat vacated by Trump's firing of Pam Bondi) to end the investigation of Powell regarding spending for Fed headquarters renovations “that I would have done for $25 million that’s going to cost maybe $4 billion. Don’t you think we have to find out what happened here?”

•••

Another War Powers Resolution Blocked – The Senate blocked Democrats’ fourth effort to impose a war powers resolution on the Trump administration’s incursion into Iran Wednesday by 47-52 vote, largely along party lines, CQ Roll Call reports. The vote killed a Foreign Relations Committee resolution by Sen. Tammy Duckworth (D-IL) that would direct President Trump to “remove the United States Armed Forces from hostilities within or against Iran, unless explicitly authorized by a declaration of war or a specific authorization for use of military force.”

As in the earlier resolutions, the two crossover votes were Sens. Rand Paul (R-KY) and John Fetterman (D-PA). Earlier this week, Democrats filed seven more war powers resolutions to force Republican senators on the record in coming weeks. 

Unless more Republicans cross over in the coming weeks the Trump administration has to May 1 before the 1973 War Powers Resolution kicks in, Roll Call notes, in which the president must withdraw forces from military conflicts in 60 days if Congress has failed to authorize the war. This can be extended to 90 days – so, to June 1 – to safely withdraw US military forces.

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AAA National Average Unleaded Regular, Thursday: $4.108 per gallon, down 1.5 cents from Wednesday, up $1.111 over February 26. Diesel: $5.614 per gallon, down 2.1 cents from Wednesday, up $2.352 over February 27. --TL

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WEDNESDAY 4/15/26

Latest Mixed Messages on Iran War – There is a “high chance” Tehran will host a delegation of Pakistani mediators Wednesday in indirect talks with the US, spokesman for Iran’s foreign ministry Esmail Baghei told a news conference in Tehran, The New York Times reports. 

“Following the discussions that took place in Islamabad, as well as the talks the Pakistani side has had with the United States, our views have been conveyed, heard,” Baghei said. 

Meanwhile on Fox Business’ Mornings With Maria Bartiromo, President Trump said the end of the war may be near, but not because of diplomacy. 

“I think it’s over. I think it’s very close to being over,” Trump told Bartiromo, a refrain he has been repeating for weeks. “I don’t know how much longer they can survive. I don’t know how much longer they can go because they’re being hit very hard.

“We could take out every one of those bridges in one hour. We could take out their powerplants, electricity plants, in one hour. … We don’t want to do that, because some day you have to rebuild it, and it takes you 10 years to rebuild the bridges, even if you’re Trump, it takes a long time.”

It seems like there could be something to Jonathan Karl’s report on ABC’s Good Morning America last week that Trump had floated the idea of partnering with Iran to “manage and secure” traffic in the Strait of Hormuz. 

But Iran has threatened retaliation over the US naval blockade of its Strait of Hormuz ports, according to the NYT, while the US military says it has “completely halted” trade in and out of Iran by sea, with more than 10,000 US soldiers and dozens of airplanes and warships deployed.

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AAA National Average Unleaded Regular, Wednesday: $4.108 per gallon, down 1 cent from Tuesday, up $1.126 over February 26. Diesel: $5.635 per gallon, down 1.5 cents from Tuesday, up $2.373 over February 27.

•••

Meanwhile, World Economy – Global economic growth is projected to slow to 3.1% in 2026 and 3.2% in 2027 if the war in Iran and Lebanon remain limited in duration and scope, the International Monetary Fund says in its preliminary World Economic Outlook, “Global Economy in the Shadow of War” (hat tip to NPR’s Morning Edition). And global headline inflation is projected to rise modestly before resuming its decline in 2027 (NOTE: This means slowdown in the rate of inflation in ’27, not prices coming down.)

However … There are much greater “downside risks” if the conflict is longer, broader, and “worsening geopolitical fragmentation, a reassessment of expectations surrounding artificial intelligence-driven productivity or renewed trade tensions could significantly weaken growth and destabilize financial markets.” 

The summary continues: “Elevated public debt and eroding institutional credibility further heighten vulnerabilities” though with economic gains from AI development a potential mitigation. 

The IMF releases its full World Economic Outlook report at the end of April. –TL

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TUESDAY 4/14/26

Those Aren’t Scrubs – Donald J. Trump as Jesus marks the second time this year that the president has quickly removed a social media post. First was Trump’s video depicting the Obamas as apes, The Wall Street Journal's Politics newsletter notes. After immediate criticism as ‘blasphemy’ from right as well as left, Trump took down this image. He admitted it was his, saying “It’s supposed to be me as a doctor. Making people better. And I do make people better.”

•••

US, Iran to Try Again? – Peace talks between the US and Iran did not end with Vice President JD Vance’s 21-hour effort in Islamabad last weekend. Two anonymous Pakistani officials not authorized to speak officially told The Associated Press those first negotiations were part of an ongoing diplomatic process. 

On Monday, two US officials said the next round could begin as early as this Thursday in either Islamabad or Geneva.

•••

AAA National Average Unleaded Regular, Tuesday: $4.118 per gallon, down 0.7 cents from Monday, up $1.136 over February 26. Diesel: $5.65 per gallon, down 0.2 cents from Monday, up $2.388 over February 27.

•••

Swalwell, Gonzales Out – Rather than face House Ethics Committee investigations over sexual misconduct allegations, Rep. Eric Swalwell (D-CA) Monday stepped down from the House of Representatives. A frequent Trump critic on cable news, the seven-term congressman withdrew as frontrunner in this year’s race for California governor after four women approached The San Francisco Chronicle and CNN with allegations of the congressman’s sexual misconduct.

Rep. Tony Gonzales (R-TX) announced Monday on X-Twitter he would resign Congress but did not specify the date. Gonzales faced a bipartisan expulsion effort later this week, Politico reports. Earlier this month, he admitted to an affair with a staff member, Regina Santos-Aviles, who later committed suicide. 

Cal gov … Swalwell’s withdrawal from California’s gubernatorial race leaves seven Democrats and two Republicans vying for the June 2 primary, from which the two frontrunners will head into the November 3 election regardless of party. With Swalwell out, the two new frontrunners are also Democrats; former US Rep. Katie Porter and billionaire and former presidential candidate Tom Steyer. –Compiled and edited by Todd Lassa

Editor’s Notebook on Hungary’s Elections – The outcome shows the limits of right-wing populism, and this American of Hungarian descent is glad to hear it! It’s an untimely defeat for Trump and renewed hope for Zelenskyy. The new Hungarian leader can earn friends in the EU if he endorses a package of aid to Ukraine. –Charles Dervarics

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TUESDAY 4/14/26

…meanwhile…

Jeffries Elected House Democratic Leader – House Democrats have elected Rep. Hakeem Jeffries (D-NY) (above) their leader, replacing Speaker Nancy Pelosi (D-CA), who announced she would step down after two decades (but remains in Congress for at least two more years). Jeffries, 52, covers New York’s 8th District which includes large parts of Brooklyn and a section of Queens, and becomes the first Black congressional leader from any party, replacing Pelosi, 82, who was the first female congressional leader from any party. Younger Democrats in Congress have been clamoring for more youthful leadership for the last few years. 

Other Leaders: Rep. Katherine M. Clark (D-MA), 59, replaces Rep. Steny Hoyer (D-MD), 83, in the House Democrat number-two spot while Rep. Pete Aguilar (D-CA), 43, replaces Rep. Jim Clyburn (D-SC), 82, for the number-three leadership position. Until the 118th Congress takes over in January, the outgoing top-three Democratic House positions are held by representatives older than President Biden, who just turned 80.

Meanwhile: Current House Minority Leader Kevin McCarthy (R-CA) faces some inner-party opposition as he tries to skate the line between condemning ex-President Trump’s dinner with an antisemite and a white supremacist (see right column) and actually condemning Trump himself. McCarthy cannot afford to lose five Republicans from the incoming House of Representatives to take the speaker’s gavel he long has coveted – which gives Democrats an outside chance of voting Jeffries into the speakership. 

Nobody, but nobody, really expects the GOP majority to let that happen, but it will make for an interesting January on Capitol Hill. 

--TL

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Oath Keepers Guilty of Seditious Conspiracy – Oath Keepers leader Stewart Rhodes and Florida chief Kelly Meggs were found guilty in federal court of seditious conspiracy for their involvement in the January 6th attack on the United States Capitol, Tuesday (The Hill). The Justice Department victory marks the first such conviction for seditious conspiracy since 1995, according to CNN.

All five Oath Keepers defendants were found guilty in the trial of obstruction of an official proceeding. Four Oath Keepers were found guilty of tampering with evidence – the fifth member of the far-right organization was not charged in this count. 

Rhodes and Meggs face potential prison sentences of up to 20 years for each.

••• 

Senate Votes to Codify Same-Sex Marriage – The Senate voted, 61-39, to codify federal recognition of same-sex marriage, with religious liberty protections securing the bipartisan support, Roll Call reports. Lead sponsor Sen. Tammy Baldwin (D-WI) told reporters the bill would ease concerns that the Supreme Court could revisit precedents that protected same-sex and interracial marriage. SCOTUS in 2013 found the 1996 Defense of Marriage Act largely unconstitutional.

Majority Leader Steny Hoyer (D-MD) said the House could take up the bill as early as next week.

•••

Good Economic News – Various signs are appearing that the Federal Reserve is succeeding in capping inflation without triggering a recession. It’s early yet, but here’s a big piece of such evidence: the national average price of a gallon of gasoline was $3.521 as of Tuesday morning, AAA reports. That’s lower than the average price before Russian President Vladimir Putin invaded Ukraine.

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news

Inflation Rate Eases to 8.5%

(WED 8/10/22)

Inflation rate is 8.5% … The Consumer Price Index was unchanged in July, after a 1.3% increase in June, the Commerce Department’s Bureau of Labor Statistics Reports. The annual rate fell slightly to 8.5% from a record 9.1% the previous month. 

Gasoline prices fell 7.7%, while all energy was down 4.6%, the BLS says. Food was up 1.1% and food at home was up 1.3%, leaving the monthly inflation rate for all items except food and energy at 0.3%.

AAA gas prices: The national average is $4.01 per gallon as of Wednesday, AAA reports, down from a record average of $5.016 per gallon on June 14.

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Tuesday’s primaries … See Left- and Right-columns for Democratic and Republican primary highlights from Wisconsin, Minnesota, Vermont and Connecticut.

--Todd Lassa

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COMMENTS: editors@thehustings.news