Source: Fortune
Summary
President Donald Trump has promoted the “Freedom Fuel Network”, a new gas station chain in Pennsylvania and New Jersey, which is offering gasoline prices significantly lower than the average market price. The chain’s pricing strategy is unclear, and its ownership and financing are not publicly disclosed. The White House claims the company is independent and not subsidized by the administration. Gas prices have been a political issue for Trump, who campaigned on reducing the cost of living.
Our Reading
The numbers tell one story. Trump’s tweet about oil prices dropping fast and gas prices at the pump dropping too sounds familiar. The Freedom Fuel Network’s pricing strategy is a mystery, with gas station margins typically being slim. The company’s ownership and financing are not publicly disclosed, and the White House claims it is independent. The timing of the chain’s launch, just before the July 4 holiday, is also notable. The situation reeks of a political stunt.
Author: Evan Null
