Sen. Bernie Sanders (I-VT) slammed President Donald Trump on Wednesday after the latter touted $5,000 hamburgers at his private residence, Mar-a-Lago, in Florida, amid record-high gas and diesel prices.
Bernie Sanders Points to 72% Diesel Price Rise
In a post on the social media platform X, Sanders quoted a post that shared a clip of Trump addressing a crowd in Texas, where he said that for $5,000, people would just be able to buy a hamburger at the resort.
The Vermont Independent said that under the Trump administration, diesel prices were up 72%, while gas prices jumped 53% and Beef rose 17%.
“Trump’s message to working-class voters? If you can’t afford groceries, maybe you should try a $5,000 hamburger at Mar-a-Lago,” Sanders said. “This is how out of touch with reality this guy is,” he added.
According to the American Automobile Association (AAA) data, the national average price of gas on Wednesday was $4.2471/gallon, which is marginally lower than Tuesday’s national average of $4.2661/gallon.
On the other hand, diesel prices continue to be elevated, with the national average price of diesel at $6.3499/gallon on Wednesday. However, the figure represents a 0.22-cent decline from Tuesday’s $6.3521/gallon average.
Trump Touts Venezuela Oil
Trump, during the same rally in Texas, said that the U.S. had received a shipment of 1 million barrels of Venezuelan oil, adding that the U.S. held an oil supply vast enough to rival multiple countries combined.
He also said that Venezuela, in the future, could go on to become the 51st State in the U.S. saying that the country could one day hold Gubernatorial elections one day.
Cathie Wood Sees Oil Price Drop
Meanwhile, investor Cathie Wood, the founder of investment firm ARK Invest, said that crude oil prices on the global market could drop to the $30-$35 range as transportation, which accounts for 57% of oil use, shifts towards electric mobility, the investor said.
However, the movement of oil out of the Middle East remains uncertain as reports of vessel strikes in the Persian Gulf, as well as the Gulf of Oman, continue to emerge. Obsidian Risk Advisors‘ managing principal Brett Erickson, following news of the strikes, said that Iran has “always” had the ability to control the Strait of Hormuz traffic.
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