President Joe Biden has publicly admitted that he doesn’t seem to have any immediate solution to the rising gas prices- which he mentioned during a CNN Townhall. He also went on to imply that the American population might not see any relief at the pump until 2022. The President informed the moderator- Anderson Cooper- that he could only guess that the price of gas would be coming down as the months go by- as we step into the new year. In the meantime, Biden doesn’t have any high hopes for a miracle that would realistically bring the price of gas down before 2022.
Joe Biden Is Unsure About A Reduction In Gas Prices
Joe Biden further clarified that even if he were to go into the Petroleum Reserve and take enough gas out, this could reduce the price of gas by around 18 cents to a gallon- but the price will still be above three bucks. As reported by AAA, the national average price of a gallon of gasoline has already reached a range of $3.36- which is an increase of four cents from the Monday average. The organization went on to note that there was no state in the entire country that had its gas price below $3.
On the Central Coast of California, around a gallon of unleaded gas was fetching at a humongous price of $7.59, while it was reported by Fox that many motorists all over Manhattan were paying around $5 per gallon to keep filling up their tank. The AAA has decided to attribute this spike in price to the increasing demand of gas, with high crude oil prices along with a drop in gas stocks- whereas Joe Biden blamed OPEC and its allies in the Middle East. He mentioned that gas prices usually relate to an initiative of foreign policy that is always about something that goes way beyond just the cost of gas.
Many Republicans have decided to blame Joe Biden for the spike in energy prices- with a few citing the pursuit of the administration in inflationary spending policies- along with the cancellation of the Keystone XL Pipeline by the President on his first day in office.