Average gasoline price jumps 25 cents in one week
In an absolutely startling, depressing, and sickening report from TheHill.com, it was reported that gas prices have jumped 25 Cents in ONE WEEK! This is absolutely ridiculous and must be addressed. Biden is doing absolutely nothing and we need somebody to step up.
The American People cannot live with these prices for long!
The average price of gasoline in the U.S. has risen 25 cents in just one week, adding to headaches faced by consumers and the Biden administration.
On Monday, the average national price stood at around $4.87 per gallon, up from $4.62 just one week ago, according to AAA.
Over the past month, prices have risen 59 cents, up from an average of $4.28 a month ago.
AAA attributed the new rise to high demand. It said that globally, demand is outpacing supply, while recent “robust” travel on Memorial Day weekend also drove up demand in the U.S.
The Midwest saw the largest increases over the past week, with prices rising 45 cents in Michigan, 41 cents in Illinois and 41 cents in Indiana, AAA found.
Meanwhile, prices themselves were the highest in California, averaging $6.34 per gallon.
In general, prices have been pushed upwards by Russia’s invasion of Ukraine. Lately, the country’s reduced refining capacity has also come into focus, as refiners, which turn crude oil into gasoline, shift towards other profitable fuels like diesel and jet fuel, which have also jumped in price.
While presidential policies have little influence on gasoline prices given the global nature of the oil market, the White House often faces political blowback regardless.
President Biden has announced a number of actions aimed at mitigating the soaring prices, including releasing millions of barrels of oil from the strategic reserve.
Ahead of this year’s midterms, Republicans have used the gasoline price issue as a prominent line of attack against Democrats.