Wealth management firm Creative Planning chief market strategist Charlie Bilello highlighted that the national average price of gasoline in the United States remained above $4.00 per gallon every single day in August.

This marks the first time in history that such a sustained price level was recorded for the month, creating what Bilello described as a painful new reality for American drivers.

Divergence From Campaign Promises

Bilello contrasted these current market conditions with statements made by President Donald Trump during his campaign. In August 2024, Trump had stated that his administration would slash energy and electricity prices by half within 12 to 18 months.

Additionally, Trump claimed in November 2024 that he would stop wars rather than start them. However, recent geopolitical tensions have escalated, including U.S. missile strikes against Iran after Tehran reportedly prepared to launch rockets carrying sea mines near the Strait of Hormuz.

Strait Of Hormuz Traffic Claims

The analyst also addressed Trump’s comments regarding oil movement through the Strait of Hormuz. Trump stated that the U.S. had been averaging 30 ships a night through the waterway, indicating significant oil flow.

Bilello shared data showing a sharp decline in crude-oil shipments through the strait since the conflict began. Energy Secretary Chris Wright had previously noted that oil was moving through the waterway with U.S. military assistance.

Rising Commodity Costs

Energy costs have surged across multiple categories since the end of February. Brent crude prices increased by 24%, while WTI crude rose 28%. Gasoline prices saw a 37% surge over the same period.

Diesel prices jumped 49% since the start of the war, and jet fuel costs climbed 53%. European natural gas expenses also rose significantly, increasing by 120% since the conflict began.

What the Numbers Show

The data reveals a stark divergence between political rhetoric and market outcomes. While campaign promises focused on halving energy costs, actual commodity prices have risen sharply. The 37% increase in gas prices and 49% surge in diesel costs directly contradict the stated goal of reducing consumer energy expenses within the first year of administration.

The White House announced a "historic oil agreement" with Venezuela, securing 100-year rights to 17 oil fields containing roughly 65 billion barrels in reserves. The deal grants North American Blue Energy Partners (NABEP) access to these assets as part of a strategy to secure American energy dominance.

Deal Structure and Control

NABEP, identified as Venezuela's second-largest private oil operator, granted the U.S. Department of War's Office of Strategic Capital a 35% equity stake in its parent company at no cost. The State Department separately secured the right to purchase 20% of all future output at production cost, along with a right of first refusal on the remaining 80%.

The agreement includes significant governance changes for NABEP. The U.S. gained veto power over the company's board, which must now consist of a majority of American citizens. NABEP has committed to investing $100 billion in new oil infrastructure.

Strategic Implications

President Trump described the agreement as "the biggest oil deal in world history," stating the oil would help refill the Strategic Petroleum Reserve. He characterized the arrangement as a "gift" from Venezuela to the American people.

The White House fact sheet noted that many of the fields were previously controlled by Russian or Chinese firms. The administration framed the deal as a reassertion of the Monroe Doctrine in the Western Hemisphere.

Financial Commitments

NABEP is expected to pay roughly $200 billion in royalties and taxes to Venezuela over the next 25 years. The White House linked this financial flow to a broader plan for "stabilization, reconstruction and democratic transition."

What the Numbers Show

The deal structure creates a dual revenue stream for the U.S. government: an immediate equity injection via the cost-free 35% stake and long-term cash flow through the right to buy 20% of output at production cost. This combination allows for capital preservation while securing supply chain control.