The Possible Source of Trump’s False $2 Gasoline Claim

The national average price of a gallon of regular gasoline is still over $3, and no state has an average price below $2.60. But since mid-April, President Donald Trump has falsely claimed, repeatedly, that gasoline prices “hit $1.98 a gallon” in multiple states. Now we may know his source.

Before publishing our April 24 story about the president’s inaccurate claims of much lower gasoline prices, we asked the White House for supporting evidence. Officials didn’t provide any.

After Trump made the $1.98 gasoline claim again, on social media May 2, CNBC reported that Trump was likely referring to the trading price for RBOB, a form of gasoline called reformulated blendstock for oxygenate blending. That price isn’t what drivers pay at the pump.