WASHINGTON, D.C., USA — President Donald Trump sat down with Kristen Welker on NBC’s Meet the Press this past Sunday. During the interview, he claimed that key costs across the U.S. — including gas, groceries, and interest rates — are down.
We’ve received many emails asking if that’s true, so let’s verify.
OUR SOURCES:
THE CLAIM:
Gas and oil prices are down.
THE ANSWER:
WHAT WE FOUND:
According to Trading Economics, the price of crude oil has declined over the past year. In May 2024, crude oil was priced at $79.15 per barrel. As of today, it’s at $58.78.
AAA reports that the national average for gas is currently $3.15 per gallon. A year ago, it was $3.64.
THE CLAIM:
THE ANSWER:
WHAT WE FOUND:
The Federal Reserve Bank of St. Louis reports that egg prices rose from $2.99 in March 2024 to $6.22 in March 2025.
Data from the U.S. Bureau of Labor Statistics shows that while some grocery staples have gone down, others have increased. Prices for items like rice, beef, cheese, and cookies are up.
THE CLAIM:
THE ANSWER:
WHAT WE FOUND:
According to the Federal Reserve Bank of St. Louis, mortgage rates have fluctuated but are slightly down from a year ago. As of May 1, the average 30-year fixed mortgage rate is 6.7%. On May 2, 2024, it was 7.2%.
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