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Monday, December 5, 2022

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Biden Will No Longer Be Able to Tout Falling Gas Prices



With the midterms less than two months away, President Biden will no longer be able to tout falling gas prices.

For the first time in nearly 100 days, gas prices rose, up to $3.681 on Wednesday from $3.674. 

After sinking every day for more than three months, US gas prices edged higher – by a penny – to $3.68 a gallon, on average Wednesday, according to AAA.

That ends 98 consecutive days of falling pump prices, the second-longest such streak on record going back to 2005.

The last time the national average price for gasoline rose was June 14, when it hit a record of $5.02. Prices fell every day since then and Thursday would have marked the 100th straight day of declines. (CNN)

“All streaks have to end at some point, and the national average for a gallon of gas has fallen $1.34 since its peak in mid-June,” AAA spokesperson Andrew Gross said in a statement this week. “But there are big factors tugging on global oil prices—war, COVID, economic recession, and hurricane season. All this uncertainty could push oil prices higher, likely resulting in slightly higher pump prices.”  

Biden and Democrats had been taking victory laps on falling gas prices, which saw national averages peak to over $5 per gallon earlier this summer.

“In fact, gas prices have fallen every day this summer for 38 days in a row,” Biden said in July. “Now, you know, you can — you can find gas for $3.99 or less in more than 30,000 gas stations in more than 35 states. In some cities, it’s down almost a dollar from last month.  We’ve been working really hard to bring the price down.”

He has continued that message throughout September. 

Part of Biden’s strategy for bringing prices down includes depleting the Strategic Petroleum Reserve, which is now reaching crisis levels.

Republicans have also been hammering Democrats’ messaging on gas prices given that they’re still well above where they were on the day Biden took office, when the national average was $2.39, according to AAA. 





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