Gas Prices Were MUCH Lower One Year Ago Today

Gas Prices Were MUCH Lower One Year Ago Today

New Report Showcases How Much Biden Has Destroyed In a Year’s Time

( – In 2021, many workers received pay raises. Unfortunately, record-breaking high gas prices have helped contribute to massive inflation that’s eaten away workers’ gains. When President Joe Biden took office, drivers paid around $2.30 per gallon. By June 14, 2021, the average national price for a gallon of gasoline rose to $3.161. On June 13, 2022, it exploded to $5.107.

Since gas prices started climbing, President Joe Biden has blamed everyone and everything except for his crushing energy and climate change policies. First, the president blamed oil company profits, and then he pointed the finger at Putin’s price hike. Now, he’s threatening to use emergency orders to force gas producers to increase the supply. Does Biden even understand what’s really driving the massive price increases?

Global oil prices tie to the fuel crisis. If the demand increases while supply remains limited, prices go up. Despite Biden’s allegations, the US has been the largest oil producer since 2012. While the Russian invasion of Ukraine has impacted prices, the American Enterprise Institute said Biden oversaw the largest overall increase in gas prices in the last 30 years in 2021.

Economists warn the US will be in a serious recession if gas prices rise above a national average of $5.50 per gallon. Still, other factors involving inflation are also at play. The government reported inflation reached a 40-year high of 8.6% on Friday, June 10. Overall, wholesale inflation prices have increased 10.8% over the past year.

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