Here's President Donald Trump's takeaway from the oil market crash and the subsequent market plunge: Gas is going to be cheap!

Trump is right: The cost of oil is a major factor in gasoline prices at the pump. That could save people money.

Oil is tumbling, because Russia and Saudi Arabia started a price war overnight.

He's right about part of that too (without commenting on "Fake News"): The market is falling because of the Saudi-Russian oil price war.

But here's what Trump is wrong about: Lower oil prices are ultimately bad for the US economy. The last time oil prices were this low, in 2015-2016, American energy businesses went bankrupt, and thousands of energy workers were out of jobs.

Also, fuel prices were already sharply lower because fewer people are traveling as the coronavirus outbreak spreads. That's not exactly good for the economy either.

If people aren't driving or flying, the price of fuel doesn't make much of a difference And if it's damaging the market and economy -- that's not exactly great news, either.

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