Gas prices have been ticking up again; they’re up 14% from last year’s high. Karine Jean-Pierre said last week that gas prices will remain well below the 2022 peak.
“I don’t have any new actions to read out,” Jean-Pierre said. “I would say that gas prices remain well below their peak back in 2022; I think that’s important. The average gas price right now is cheaper than this time last year, and that’s because of what this president has been doing over the last three years.”
Biden draining the emergency reserves certainly helped.
According to the American Automobile Association (AAA), the national average price for gas was $3.644 per gallon as of Tuesday, up from $3.634 the day before and $3.608 a week before. A month ago, on March 16, the national average gas price was $3.455 per gallon. Gas prices are slightly lower than a year ago: on April 16, 2023, the national average was $3.669 per gallon.
Under President Trump, real weekly wages rose 8.2%, gas prices were essentially flat, and the average yearly inflation rate was 1.9%.
Under Biden, real weekly wages are down 3.9%, gas prices are up over 50%, and costs have increased 19.4%.
— GOP (@GOP) April 25, 2024
According to Charlie Bilello, chief market strategist at Creative Planning, gas prices have jumped by 17 percent so far this year, nearing their highest level since October 2023.
The White House is carefully monitoring gas prices so they don’t go up too high. It’s election season! The price went down 2 cents this week.
That isn’t true of California. They keep increasing gas prices. While they are rising, the politicians are talking about another tax. They are an outlier.
The administration blames the summer and greedy oil and gas distributors and sellers, but that isn’t the core reason. The core reason is Bidenomics.
Finagling Oil and Gas Prices
Biden worked out deals with Iran He doesn’t enforce sanctions.
“US doesn’t need new sanctions on Iranian oil—needs to enforce existing ones, Javier Blas writes. Either Biden is turning a blind eye to Chinese purchases, or Tehran & Beijing have outwitted US officials.” Real reason? Low oil $ = Biden’s reelection. UGH!! https://t.co/D0jam3imlN
— Ed Cox (@ChairmanEdCox) April 23, 2024
Last night, the US Senate followed the House of Representatives and approved the new package of sanctions on Iranian oil. President Joe Biden is expected to sign into law as soon as today.
But they key, as I argued on my @Opinion column below, is about enforcement | #OOTT https://t.co/MADkGWV1xQ
— Javier Blas (@JavierBlas) April 24, 2024
He still left some petro in the emergency reserves. He might hit them again since it’s no longer an emergency reserve but rather a Biden campaign fund.
People never seem to mention that we aren’t building new refineries, at least not in the US. – Columbia, sure, but not here.
If Biden gets back in, coal and gas are history. Oil will be very expensive.
Subscribe to the Daily Newsletter
wpDiscuz
