What happened
A Republican congressman has expressed optimism that fuel prices will decrease due to a deal between President Donald Trump and Venezuelan oil producers.
Rep. Greg Steube of Florida made the prediction during an appearance on Fox Business Network's program, The Evening Edit. He advised Americans to be patient, as the effects of the deal will take time to materialize.
Steube attributed the current high fuel prices to policies implemented by President Joe Biden, including the cancellation of the Keystone Pipeline and the freezing of oil and gas leasing in the Arctic National Wildlife Refuge. He argued that President Trump's efforts to reopen domestic oil and gas exploration will lead to lower prices at the pump.
The congressman also mentioned that he has filed a bill to provide tax incentives for diesel refineries, which could further contribute to decreased fuel prices in the long term.
