An influential fiscally conservative and liberal political advocacy group will team up with gas stations across the country this week to remind Americans what gas prices were four years ago.
On Monday, Americans for Prosperity (AFP) will host the first of a series of events. lower gasoline prices From coast to coast, “to refresh my pre-Bidenomics mood.” Over the course of this week, more than 20 gas stations will participate and temporarily reduce prices to $2.38 per gallon, close to the average price for a gallon of gas on the day of President Biden’s inauguration.
“Biden’s US energy war has had dire consequences and Americans are reeling from soaring gas prices as we head into the summer,” said Akash Chogule, AFP’s vice president for government affairs.
“From closing the Keystone Pipeline to banning energy leasing on federal lands, Joe Biden’s top-down policies will strain our nation’s energy resources and make even family road trips more expensive. ,” Chogle said in a statement. “This week, we’re focused on what policies that unlock our nation’s energy potential will do to gas prices.”
The first AFP Gasoline Rollback event will begin at 11 a.m. Monday at the Sunoco Station, 7701 Penn Ave. in Pittsburgh, and the event is scheduled to continue through May 29 and close at the Oregon Gas Station, 13488 SE Hwy 212. At least that’s what AFP expects. 4,000 motorists will be lining up at petrol stations this week to fill up on petrol at bargain prices.
Republican Sen. Cynthia Lummis is scheduled to attend one of the events in Wyoming this week, an AFP spokeswoman said.
“Since President Biden took office, his overspending has caused Wyoming people to pay nearly $1,200 more per month for basic goods and services.” We look forward to participating and being a part of this gas reduction event where people not only save money at the pump, but are reminded of the real impact the Biden administration will have on their wallets,” said Lummis. said in a statement to FOX Business.
Gasoline prices were not immune to the high inflation rates that have plagued them to date. Biden’s term, which peaked at 9% in 2022 and has since fallen to 3.4%, still well above the Federal Reserve’s 2% goal. The national average price for a gallon of gas as of Monday was $3.59, more than 50% higher than when Biden took office in January 2021.
The Republican Party criticized Biden’s policies According to data from the Bureau of Labor Statistics, costs have increased more than 41% over the past four years due to rising energy prices. The White House’s chief economic adviser said last month that the Biden administration is “committed to keeping gas prices affordable” in the run-up to his November re-election bid.
“As we have done in the past, of course, we will continue to closely monitor gas prices to ensure they remain affordable for many American households as we head into the summer driving season,” said National Economic Advisor Lael Brainard. I’ll go,” he said. Semaphore’s World Economic Summit held in April, CNBC reported.
Gasoline prices fell for the third consecutive week last week to a national average of $3.58 per gallon, according to GasBuddy data compiled from more than 12 million individual price reports covering 150,000 gas stations nationwide. Ta. That’s still more than $1 a gallon higher than the price when Biden entered the White House.
AAA on Thursday blamed the “glacial decline” in gasoline prices on weak domestic demand and oil prices falling below $80 per barrel.
“Barring any unforeseen events, this slight decline in pump prices is not likely to change anytime soon,” AAA spokesman Andrew Gross said in a statement. “There are seven states where the average gas price in the county is less than $3 per gallon,” he said. “This trend is likely to accelerate as more gas stations east of the Rockies lower prices. .”
In previous attempts to rein in gas prices, Mr. Biden has used the Strategic Petroleum Reserve as a temporary relief measure.
In 2022, when oil and gas prices soared during the first months of Russia’s invasion of Ukraine, the White House released 180 million barrels from the SPR. Reserves have fallen to about 365 million barrels, the lowest level in decades, and Republicans have slammed the president.
Former President Donald Trump, a 2024 Republican presidential candidate, has grilled Biden on gas prices, promising to “drill, baby, drill” to bring prices back to their previous administration’s levels if Biden wins.
Gasoline prices averaged $2.57 a gallon during Trump’s four years in office, but prices plummeted in the final 10 months of Trump’s presidency as the coronavirus pandemic and historic low gasoline demand hit. .
White House senior adviser John Podesta suggested last month that Biden could release more oil from the Strategic Petroleum Reserve if gas prices rise before the election.
“I think the president has done that (releasing oil from the SPR) before…and wants to keep gas prices affordable, which I’m sure will happen,” Podesta said at the BNEF summit in New York. I will do everything I can to help.”
He never said that he would be released from SPR anytime soon.
