Gas prices have been breaking daily records for nearly two weeks, up 11 cents last week under President Biden.
Average price of conventional gas strike Another high on Monday, hitting $4,596 per gallon, is the highest price on record. The midrange is now approaching between $5.00 and $4,971 while the premium class is higher at $5,257. Diesel hit an all-time high last week, but Monday’s current average price remained at $5,554.
The current gas price of $4,596 reflects an average increase of 11 cents last week, according to AAA. Last month, gas prices rose more than 47 cents, and the price is $1.55 higher than a year ago. No state in the country has the average gas price below $4.
President Joe Biden attends an event in the White House Rose Garden in Washington DC on May 9, 2022. (Drew Angerer/Getty Images)
The same trend is true for diesel, which jumped more than $2.37 last year, and gasoline prices are only expected to get worse as the summer progresses. JP Morgan, for example, predicts a “hard summer” when fuel prices rise above $6 per gallon.
“In anticipation of strong demand stimulus… the US retail price could rise another 37% in August to the national average of $6.20 per gallon,” Natasha Kaneva, head of commodities research at JP Morgan, said last week.
Meanwhile, members of the Biden administration are completely reluctant to take responsibility for rising gas prices and continue to blame oil and gas companies as well as Russia.
On Thursday, Energy Secretary Jennifer Granholm went on the line and denied responsibility for the Biden administration.
Energy Secretary Jennifer Granholm speaks on Capitol Hill in Washington on Thursday, May 5, 2022. (AP Photo/Mariam Zuhaib)
“You can thank what Vladimir Putin did for the invasion of Ukraine,” he said to Senator Josh Hawley (R-MO), who dismissed his excuses as “absolute nonsense”.
“From January to August, the price of gasoline increased by more than 30 percent in my state alone. It has been a constant, constant detection since then,” Hawley said, as detailed by Breitbart News:
“This is what your president did when he first came to power,” the Senator continued.
“He immediately turned to the Paris climate agreement. Canceled the Keystone Pipeline. He stopped leasing programs to ANWR. Suspends all new oil and gas leases and drilling permits on federal land and waters for 60 days. all over the country. By the way, that’s 25 percent of US oil production,” Hawley explained.
“He ordered federal agencies to remove all support for fossil fuels. It introduced new regulations on oil, gas and methane emissions. It was only in the early days. Are you saying it doesn’t affect our energy supply in any way? he asked, again provoking Granholm’s denial.
Source: Breitbart
