Gas prices are through the roof under the Joe Biden presidency, and analysts say they’re only going to get worse.
After the price of gas clocked in at its most expensive since 2014 prior to the July 4 weekend — at an average of $3.11 a gallon, according to the American Automobile Association — a report from Tuesday indicates a 2-cent increase to $3.13 a gallon. Since Jan. 1, when the national average gas price was $2.25 per gallon, the price of gasoline has risen 40 percent.
“Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher,” said Jeanette McGee, an American Automobile Association spokeswoman. “We had hoped that global crude production increases would bring some relief at the pump this month, but weekend OPEC negotiations fell through with no agreement reached. As a result, crude prices are set to surge to a seven-year high.”
The report comes after White House press secretary Jen Psaki has faced questions about the pricing surge. Reporters asked Psaki in the lead-up to July 4 whether the administration thinks its purported 16-cent decrease in barbecue grocery items is more significant than Americans struggling to fill up their car tanks, to which she deflected. The press secretary was pressed on the issue again Tuesday, saying, “We’re working on it.”
“So I would say first, Mike, that the president wants Americans to have access to affordable and reliable energy, including at the pump,” Psaki said. “And so that’s why our team is constantly monitoring gas prices and directly communicating with OPEC parties to get to a deal and allow proposed production increases to move forward.”
Crude oil prices rose to their highest level in six years on Tuesday. Brent crude is up 45 percent since the beginning of the year, with WTI crude up 50 percent. Worse, the American Automobile Association has now predicted gas prices will surge until at least August, by 10 or 20 cents more per gallon.
The White House has continually prioritized green energy, to the detriment of the oil and natural gas industry, notably canceling the Keystone XL Pipeline and prioritizing the climate change agenda in infrastructure. Biden halted fracking and oil leases on federal lands upon assuming office.
