WASHINGTON, D.C. – The Biden Administration thus far has not been doing favors for anyone’s gas tanks, according to a new report that says prices at the pump have skyrocketed nearly 80 percent since President Joe Biden took office.
As per gasbuddy.com, on the first day of Biden’s presidency – January 20, 2021 – the average price for a gallon of gas nationwide was just $2.37. Fast-forward to early March 2022, and that number had reached $4.34, before lowering ever-so-slightly to $4.20 in early May, according to the American Automobile Association (AAA).
Douglas Holtz-Eakin, president of the American Action Forum – a nonprofit, conservative issue advocacy group – called on Biden to enact change in order to help drive down high fuel prices.
“To be fair, gas prices moderated modestly toward the end of April, but remain above $4.00 a gallon. Since the start of the Biden Administration, gas prices are up over 80 percent,” he said. “This record of futility drives home the basic economics of the situation: Either admit you want gas (and other carbon-based fuel) prices higher and sell it politically on the merits, or take some real, permanent action on domestic production that stands a chance of increasing supply enough to reduce gas prices.”
DC Business Daily has been keeping track of how much Americans are paying for gas every year via their “Gasoline Misery Index,” which confirms the American Action Forum’s estimate of how high gas prices have risen since Biden took office.
“According to the U.S. Energy Information Administration (EIA), in January 2021 the national average price per gallon of gasoline was $2.33. It has increased nearly 79% when compared to Friday’s national average price of $4.16,” the website says. “With a number that gasolinemiseryindex.com calls the Biden Misery Index, Americans are spending an average of $961 more per year on gasoline today since the president entered office in January.”