According to GasBuddy, the price for gas this year on Thanksgiving was on average $1.193 higher than when President Joe Biden took office on January 20, 2021, an average increase of nearly 50% over a period of 22 months.
GasBuddy said as of November 24, 2022, the national price for regular gasoline was $3.586, compared to $2.393 when Biden was inaugurated as the 46th president of the United States. Since Biden entered office gas prices have been on an upward swing, and reached a peak in June of 2022, before lowering to in price due to lower demand.
One month ago, the average price was $3.793, and even though the price has come down, it still remains considerably elevated. It is down around 5.5% from a year ago, but this year’s national average Thanksgiving price is the highest since AAA started keeping records in 2000.
Biden, in remarks on November 23, touched on fuel prices in the lead-up to his Thanksgiving remarks saying, “I want to address another challenge that families are facing and the one I think they’re most focused on right now: high gas prices. This is a problem not just here in the United States, but around the world.”
He then added, “Of course, it’s always painful when gas pices (whoops), gas prices spike. Today, the price of gas in America, on average is $3.40 a gallon; in California, it’s much higher. The impact is real.”
Biden, as usual, blamed the high prices on “oil-producing countries and large companies” which had not “ramped up the supply of oil quickly enough to meet the demand. And the smaller supply means higher prices globally, globally, for oil.”
However, Biden didn’t mention how he had reduced America’s production, to taking America from being energy independent to begging for more production from OPEC, following his format against fossil fuels.
Biden also said he would be releasing oil again from the U.S. Strategic Petroleum Reserve (SPR) for the purpose of reducing prices, although this strategy has had minimal effects on prices in the past, and has even recently been called illegal by an energy insider over its political implications and possible irreversible damage to the nation.
As of September of 2022, since President Biden took office, the U.S. SPR has been reduced from 640 million barrels to 450 million barrels. According to Forbes, the SPR is at its lowest levels since 1984.
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