Gas Buddy Head of Oil Analysis Patrick De Haan joins Maria Bartiromo’s Wall Street to discuss the impact of higher gas prices on summer travel.
Gas prices have more than doubled under President Biden’s administration.
Since Biden took office in January 2021, the price of a gallon of gas has doubled.
On January 20, 2021, the average price per gallon of gas across the country was approximately $ 2.39. As of Saturday, the price of a gallon of gas jumped to $ 4.81, which is five cents more than Friday, according to AAA.
GAS PRICES ON THE ROAD TO $ 5 IN THE NATIONAL ESSENCE VERY SOON
The White House this week welcomed OPEC’s decision to increase supplies and use its strategic oil reserves, while criticizing US energy companies for not increasing production.
A driver passes a sign with gasoline prices above $ 6.00 per gallon on May 20, 2022 in San Rafael, California. (Justin Sullivan / Getty Images / Getty Images)
Republicans used the continuing, unprecedented rise in gas prices and inflation as a stick against the Biden administration.
“Joe Biden’s war against American energy has forced families across the country to empty their wallets to fill their tanks,” RNC President Rona McDaniel told Fox News. “Unfortunately, Biden is doubling his disastrous program because he is not paying the price – the American people.
The national average is even more likely to reach $ 5 a gallon, and that could hit as early as June 17, predicts Patrick De Haan, head of oil analysis for GasBuddy.
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The White House On Tuesday, he declined to say that Biden’s policies were responsible for high inflation, which was materializing under his supervision.
FILE PHOTO: Gas prices rise with inflation as this gas station sign appears in San Diego, California, November 9, 2021 (REUTERS / Mike Blake / File Photo / Reuters Photos)
“His policies have helped the economy get back on its feet. That’s what politics did to him, “White House spokeswoman Karin Jean-Pierre said in response to a question from Fox News’s Peter Ducey about whether Biden would take some responsibility for inflation. “When we talk about gas prices at the moment, this is really Putin’s increase in gas … In the last few months, we have witnessed about a 60% increase due to its accumulation and invasion of Ukraine.”
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At a news conference on Friday, Biden admitted that Americans don’t really care why gas prices are so high, they just want them to fall.
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Kristen Altus of Fox News contributed to this report.
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