Trump Claims Gas Is Below $1.99 In Places—Here's Where Gas Prices Are Actually Lowest Amid Affordability CrisisThe national average for a gallon of regular gasoline has dropped close to $3 over the last month, the lowest since 2020, but still significantly higher than President Donald Trump’s claims of $1.99 in “certain states”, as the president faces persistent concerns, and rising blame, among Americans over an affordability crisis. https://t.co/CFiYOl1fAA ...

Industrial Policy & Government Intervention - The speaker expresses reservations about government equity stakes in companies, preferring loan-based support similar to the Overseas Private Investment Corporation's approach [3][4] - The speaker contrasts current industrial policy with past practices, noting the oil industry's self-reliance during crises without government bailouts [4] - The speaker criticizes the concept of "too big to fail" banks, arguing it creates unfair competition for regional banks [5] Market & Economic Indicators - Gasoline sales are flat year-over-year, but prices are down 10-12%, suggesting reduced consumer driving [6][7] - Diesel sales are up 35% year-over-year, indicating strong commercial activity, potentially driven by onshoring [7] - The speaker suggests monitoring diesel sales in the third quarter to gauge the sustainability of the current economic activity [9] Retail & Consumer Behavior - The economy is K-shaped, with luxury shopping centers experiencing double-digit sales increases while middle-market retailers like Red Lobster struggle with flat sales and heavy discounting [10][11] - McDonald's price increases are encroaching on casual dining restaurants [11] - Consumers are trading down from higher-priced alcoholic beverages like margaritas to cheaper options like beer [14] - Consumers, especially younger demographics, are increasingly buying smaller quantities of alcohol for immediate consumption rather than larger quantities for later use [15][17]