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Seven weeks from TODAY, voters will vote in the midterm election.
And, for all the words that I — and others! — will spill about the races between now and then, the election may come down to this simple chart from AAA:
The average price for a gallon gas is now $4.32 — up 13 cents in the last week and more than a DOLLAR more expensive than at this point last year.
And there’s no debate about why: President Donald Trump launched a preemptive war in late February against Iran. That led to the closure of the Strait of Hormuz. With the Strait effectively closed, far less oil can be transported from the region. That scarcity leads to higher gas prices. Period.
It’s a political nightmare for a Republican party who, the last time they faced voters, promised to bring down prices on the things people buy every day/week/month.
And, what’s worse is that Trump never really persuaded the public (or tried to persuade the public) about why they would need to deal with some inconveniences — like MUCH higher gas prices. As a result, the war in Iran has *never *been politically popular. And the remaining support for it is collapsing further with every passing day.
This chart from captures that decline nicely:
I think it is very possible that on November 4 we look at major Democratic gains in the House and Senate and say: It was the gas prices, stupid.
and I broke it all down in this week’s edition of “Super Tuesdays.” We also talked Texas, Kansas and JD Vance’s presidential prospects!
**You can listen or watch the FULL episode for FREE on **Apple, Spotify, iHeart and ▶YouTube. All we ask is that you like and subscribe on whatever podcast platform you prefer!
