Why $3 Gasoline Won’t Last

This month, Trump has been boasting about gasoline being under $3 per gallon in most states throughout the country. But his bragging will backfire as multiple forces conspire to push prices higher. Along with precious metals, oil and gas prices are surging as inflation rips.

They’re screaming in unison that CPI and Treasury yields are going to rip higher as well, leading to a higher cost of borrowing for already debt-addled Americans who are struggling to stay afloat.

Get ready for an energy shock as oil and gas prices surge. This week’s huge spike in natural gas, today’s jump in crude, and across-the-board dollar weakness suggest much higher prices are coming. All of this will push already rising CPI and Treasury yields to much higher levels.

— Peter Schiff (@PeterSchiff) January 23, 2026

Meanwhile, the Trump administration has declared victory on rising prices as it devises new interventions to expand the money supply in novel ways, blowing up the bubble with even more state intervention and an explicit push for dovish monetary policy. The real winners in money printing and debt schemes to make things “affordable” again are the banks and politicians who are closest to the proverbial money printer. Average Americans get straddled with higher prices and lifelong debt servitude while the hollow promise of affordability blows up.