Trump's LNG Boast Blows Up: Project Won't Bring Down Fuel Prices for Years

President Donald Trump recently touted a $54 billion South Korean investment in Alaska's liquefied natural gas (LNG) project, claiming it would help bring down soaring fuel prices. However, LNG executives quickly corrected him, revealing that the project won't be completed for at least three years and will only benefit Alaskan residents.

The White House had announced the investment as part of a larger commitment from South Korea, valued at $200 billion, stemming from last year's trade agreement. Trump has been attempting to convince Americans that exorbitant gas and diesel fuel prices tied to his Iran war will drop 'like a rocket' after the midterms.

Gas in the U.S. is currently averaging $4.41 a gallon, more than $1.25 higher than a year ago, while diesel averages $6.39 a gallon, nearly $2.70 more than drivers paid 12 months ago. In Alaska, drivers are paying an even steeper $5.03 cents for regular unleaded and $6.60 a gallon for diesel.