Gas prices on Saturday had more than doubled since President Joe Biden assumed office, AAA data shows.
Gas prices reached a seven day record average of $4.81 on Saturday, doubling the $2.39 per gallon price on Biden’s inauguration day.
Since Biden assumed office, the nation has suffered from his energy and fiscal policies, supply chain woes, and 40-year-high inflation. On Thursday, the Washington Post admitted Biden’s “$1.9 trillion rescue package in March 2021 was too large” because it fueled inflation.
Biden has repeatedly said he is doing everything he can to lower costs for Americans. Yet Biden has not reversed course on several key stifling energy policies, Breitbart News reported:
Biden has waged war on both public and private financing of oil drilling while subsidizing green-new-deal-like energy plans. As a result, American oil production is down from 2019, the year before the pandemic. Hard numbers suggest 2022 oil production is 12 million barrels per day, or eight percent less than in 2019.
Biden has made it increasingly more difficult for oil companies to gain financing to drill on private lands. He has also halted new drilling on public lands and terminated the Keystone Pipeline project that would have transported vast amounts of oil to American refineries.
President Biden’s Energy Secretary Jennifer Granholm told reporters on Thursday that Americans will have to pay at least four dollars a gallon for the foreseeable future. “The price of gas is likely to remain above $4 per gallon,” she estimated based on Department of Energy data.
Granholm has said in the past that high gas prices will encourage people to transition to more expensive, fuel-efficient vehicles.
In April, Biden suggested Americans can save money by purchasing an electric vehicle. “Under my plan, which is before the Congress now, we can take advantage of the next generation of electric vehicles,” he said. “A typical driver will save about $80 a month from not having to pay gas at the pump.”