Libs Suddenly Care About Gas Prices… After Ignoring $200-Per-Barrel Obama Oil [WATCH]

Political commentator Carl Higbie discussed the recent rise in gasoline prices during a broadcast that also featured clips from President Donald Trump, California Gov. Gavin Newsom, Sen. Mark Kelly of Arizona, and Sen. Elissa Slotkin of Michigan.

Higbie addressed concerns about the sudden increase at the pump and attributed the surge largely to speculation surrounding potential disruptions to oil shipments through the Strait of Hormuz.

Higbie began by noting that drivers across the country had recently noticed prices increasing.

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“You probably noticed gas prices jumped pretty substantially in the last, I don’t know, week and a half,” Higbie said.

“And normal folks like us are all asking the same question, why are gas station prices rising so fast?”

He explained that many consumers question why gas stations raise prices quickly even when fuel was purchased earlier at lower costs.

“They filled their tanks at lower prices. They may have not bought an ounce of fuel since the new prices came up, thinking, hey, maybe most gas stations fill up once a week. The busiest ones on the highway, maybe three times a week. Yet they’re jacking up their prices so rapidly,” Higbie said.

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Higbie referenced a common phrase used in the oil industry to describe price movements.

“Well, as the industry saying goes oil prices, take the elevator up, and then they take the escalator down, nice and slow.”

He noted that fuel sold at gas stations was often produced and sold on the market months earlier.

“But most of us see that the oil at the pump, or gas at the pump, was bought, brought out of the ground, and sold at market price months ago, which was around 60 bucks a barrel,” Higbie said.

Higbie said the recent spike was tied largely to speculation about potential disruptions in the Strait of Hormuz, one of the world’s most important oil transit routes.

“So let me explain why you should not be freaking out right now,” Higbie said.

“Okay, first, let me say I told you this wasn’t going to be fuel Armageddon last week.”

“Yes, there’s been a surge in American oil prices too, but this is largely speculation on the disruption of the Strait of Hormuz, but I think this will probably come back down pretty quickly here, but probably not in China.”

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