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Fact check: Trump posts wildly deceptive chart on oil prices

President Donald Trump posted a chart claiming 'Oil is Down 25% or $30 Per Barrel Since Sleepy Joe', using a misleading $120 baseline from 2022 to suggest oil prices have fallen sharply.
In reality, crude futures closed below $80 per barrel when Biden departed in January 2025, contradicting the chart's $120 claim that conflates 2022 prices with conditions Biden left behind.
Investment strategist Pavel Molchanov of Raymond James noted Oil prices had already declined to about $80 per barrel by late 2022, emphasizing that global supply and demand fundamentals drive markets rather than political leadership.
Trump has employed similar tactics regarding gasoline prices, repeatedly citing a peak of about $5.02 per gallon from June 2022 while omitting that averages increased to $4.55 per gallon as of Friday.
Oil prices jumped after the US and Israel attacked Iran in late February, briefly exceeding $110 per barrel in early April before declining to above $94 per barrel by Friday.

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Fact check: Trump posts wildly deceptive chart on oil prices

Oil prices are higher now than they were when President Donald Trump returned to the White House in January 2025. But Trump posted a wildly deceptive chart on Friday that wrongly suggests oil prices are lower than they were upon predecessor Joe Biden’s departure.

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