(TruthandLiberty.com) – In President Biden’s first days in office, he announced a war on US energy production. Since then, US gasoline supplies have struggled to keep up with the demand. The result has been a massive increase in prices at the pump. In January 2021, the national average for a gallon of gasoline was $2.40.
As gasoline prices steadily rose in November to an average of $3.39 per gallon, Biden approached OPEC instead of US energy companies to increase the supply. When OPEC rebuffed the president’s request, Biden announced he authorized the government to release 50 million barrels of oil from the Strategic Petroleum Reserve to alleviate costs at the pump. It had a very small effect through the end of December as prices temporarily dropped to $3.28.
As of this morning, the national average is $3.34 per gallon for regular unleaded.
On November 24, one day after Biden announced the release of 50 million barrels from the Strategic Petroleum Reserve, it was $3.39.https://t.co/mRgUUzrn6s
— Jim Geraghty (@jimgeraghty) January 26, 2022
On December 23, the president took a victory lap for saving Americans ten cents per gallon. The slight drop in gas prices was short-lived. Now, the national average is back up to $3.34 per gallon and rising.
On January 23, AAA said despite the low demand for gas, prices continue to climb because of slower production. Energy experts say gas prices will follow as oil prices continue to rise. In some areas of the country, gas could eclipse $4 per gallon or more early this summer before prices begin to drop.
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