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The Blue Wave Arrives at the Pump Without a Discount Code
· New York time
A Democratic majority in Congress could pressure President Trump to end the war in Iran, but it will be harder for lawmakers to directly lower gasoline and diesel prices. Fuel prices are tied to a complex international oil market, NPR reported. That makes the distance between an election result and a cheaper fill-up longer than a campaign slogan might suggest. Congress can debate foreign policy and use its legislative and oversight powers, but the price on a station's sign also depends on forces beyond a vote in Washington. For drivers, the distinction is practical. A change in party control does not by itself reset the price of crude oil or guarantee an immediate change in the cost of fuel. The new majority may seek to influence the administration's approach to the war, yet the effect on an international market would be indirect and uncertain. The political temptation is to put a familiar face beside the pump and promise that relief is on the way. The market has a much larger cast, and not all its participants are interested in the congressional calendar. A vote can change who chairs a hearing; it cannot issue an order to every oil trader. The new Congress may have more leverage in Washington, but the pump remains connected to a system that does not accept committee assignments as currency.
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