Gas Hits All-Time High Shortly After WH Said Plan Would Lower Prices

On May 10, President Joe Biden gave remarks on the economy in which he once again alluded to the number-one problem that households face today: inflation. “I know that families all across America are hurting because of inflation,” Biden continued, referring to a problem that his administration has only recently acknowledged as a serious issue after previously dismissing it as a passing fad, implying that rising costs for everyday goods and services would subside. But they haven’t improved; instead, they’ve gotten worse, reaching and maintaining four-decade highs.

Nonetheless, Biden claimed that he was taking inflation very seriously and that it was his administration’s top domestic priority, before blaming the usual suspects: the COVID-19 pandemic and variants, which shattered Biden’s campaign promise to shut down the virus instead of the country and its economy, and the Russian invasion of Ukraine.

The justifications are lame, but Biden and his administration continue to make them rather than take responsibility for their spending spree and other economic policies that contributed to the economic mess that is now causing Americans misery.

Biden asserted, somewhat oddly, that he could taste Americans’ dissatisfaction with high costs and that there are things we can do, address, and ought to do. To that aim, Biden stated that he was taking steps to lower gas costs, which have been steadily climbing since Biden assumed office and began destroying American fossil fuel output on his first day.

The AAA national average for unleaded was $4.374 on May 10, when Biden announced his vow to lower gas prices. Three weeks after Biden pledged that his proposal to enable more biofuels and draw unprecedented amounts from the nation’s Strategic Petroleum Reserve would cut prices, the national average stood at $4.622, another all-time high price. 

Gas is 44 cents more costly today than it was a month ago, and more than $1.57 more expensive than it was at this time last year, thanks to a quarter surge in costs since the previous Biden address in which he looked to be taking action that didn’t achieve what he claimed it would.