GRAND RAPIDS, Mich. — Questions are swirling around what the U.S. capture of Venezuelan President Nicolas Maduro could mean for gas prices in America.
Following the capture, President Trump said the US will take control of Venezuela's oil reserves, pushing American companies to invest in the country's struggling oil industry. But according to GasBuddy analyst Patrick De Haan, it could take years for the U.S. to see gas prices affected by U.S. investment.
"Keep in mind, Venezuela, under many, many years of US sanctions, has seen its infrastructure crumble, mismanagement, and lack of investment. I mean, Venezuela's oil output is, you know, just above 10% of where it was decades ago. Venezuela's oil output represents 0.4% of global oil supply," De Haan said.
Venezuela's crumbling infrastructure, low output, and billions of dollars needed to get oil flowing again mean it could be years for U.S. drivers to see prices at the pump dip slightly because of increased oil output from Venezuela. De Haan also says U.S. companies may be wary of investing after being burned by previous regimes when they nationalized their oil sector, which they may have considered as stealing millions in assets. De Haan says the biggest impact from increased oil production would be fewer swings in prices from global conflicts and natural disasters.
"In four years, if they're producing more oil, it could lead to more stability and the price of oil, that is probably the best thing for global consumers, is that additional oil means more stability and prices and less volatility," De Haan said.
Gas prices across West Michigan are starting 2026 significantly lower than last year, with drivers saving more than 60 cents per gallon compared to January 2025.
The Grand Rapids metro area is seeing an average of $2.56 per gallon as of Monday morning, according to GasBuddy data.
Price variations exist across West Michigan counties, with Kent County offering the lowest rates at $2.48 per gallon. Muskegon County follows at $2.53 per gallon, while Ottawa County drivers are paying $2.54 per gallon. Kalamazoo County has the highest prices in the region at $2.75 per gallon as of Tuesday morning.
Drivers looking to maximize their savings should fill up soon, as prices are expected to cycle upward by the end of the week or early next week.
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