CEO John Catsimatidis on Lowering Prices, Tariffs, and New York City Politics

Tariffs and Trade Deals

• 🤝 President Trump is set to meet with oil and gas executives regarding steel and aluminum tariffs, with reciprocal tariffs on oil and gas imports from Canada and Mexico scheduled for April 2nd.
• 🇨🇦 Catsimatidis predicts a deal with Canada before tariffs take effect, citing a desire from both sides to reach an agreement.
• 🇲🇽 He is less informed about Mexico but believes Trump is inclined to make a deal before implementing tariffs.

Energy Prices and Infrastructure

• 💡 The construction of natural gas pipelines in the Northeast is highly likely, which would lower heating and electricity costs for New York and New England.
• 📉 Oil prices are expected to decrease to $50-$65 per barrel in the next 3-6 months, influenced by US energy infrastructure efforts and China's fragile economic recovery.
• ⛽ The goal of President Trump's administration is to increase oil and natural gas supply to lower prices.

Grocery and Food Inflation

• 🛒 Grocery prices showed flat month-to-month growth in February, with overall food inflation at 2.6% year-over-year.
• 📉 Catsimatidis states that egg prices have fallen substantially and that his supermarkets (Gristedes and D'Agostino) have already begun lowering prices.
• 🚚 He anticipates that falling diesel prices will lead to further reductions in transportation and factory costs, contributing to lower food prices.

New York City Mayoral Race and Crime

• 🗳️ The New York City mayoral race is heating up, with Adrienne Adams raising limited funds, incumbent Eric Adams focusing on crime reduction, and Andrew Cuomo as a strong contender.
• 🗽 Catsimatidis believes Eric Adams is cooperating with law enforcement to address crime and emphasizes the need to clean up New York from criminal activity and shoplifting.
• ⚠️ He warns that if New York is not fixed, businesses will not make money, and many drug stores have already closed.