This is John Batchel, a conversation with a colleague Elizabeth Peake about the American economy.

The tax cut.

What tax cut?

Price of gasoline.

Every penny down, every two pennies down, every three pennies down is a gas price reduction,

but is also a tax cut for the American consumer driving to work.

Liz makes the point.

And the Trump administration is given credit for it. The price of gasoline is in retreat because of policy overseas,

because of negotiation, because of conversation, continuing from the Biden tour. Just faster.

Here's Liz. More of this tonight. Gasoline definitely is going down.

It's about a current average in the country is around 280. A year ago, it was like 315, 310.

So yes, it has. There's always a lag, you know, between oil prices and gasoline prices, but oil prices have come down.

And indeed, that passes along in the way of gasoline.

And by the way, there's almost nothing that is more impactful to consumers in the United States

than the price of gasoline.

Almost, I don't know what the percentages of Americans who drive to work,

but as you remember when Joe Biden was president and gasoline hit $5 a gallon for the very

first time in our history, people were really angry because that is a huge tax on Americans.

And what we're seeing right now is the reversal of that tax.