US Gasoline $4, Natural Gas $4 and Potential 2026 Lower Highs Energy prices in the US may be shifting toward a post-inflation deflation cycle in 2H. My graphic depicts the January natural gas future dropping below $4 per million British thermal units on Aug. 21 and the daily national average gasoline price hovering near $4 a gallon. Gasoline prices topped out at $4.56 in May, below 2022's peak of $5.02, when Russia invaded Ukraine. Will 2026 mark lower highs in both natural gas and gasoline, consistent with the roughly 20-year pattern in crude oil? My bias leans that way due to the growing US energy-supply surplus and political motivations for the incumbent party into the midterm elections. A top headwind for consumer sentiment is rising gasoline prices, and they typically drop after summer driving season. Lower natural gas would help curtail rising heat and electricity costs. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tjwxmlkgifpn {BI COMD} #naturalgas #gasoline #energy @Bloomberg(Mike McGlone)