How Biden raised gas prices 48% BEFORE ‘Putin’s gas price hike’
President Joe Biden and Democrats have blamed the continued gasoline price surge on Big Oil and Russia’s invasion, but pump prices have climbed throughout his tenure.
While Russia’s invasion of Ukraine has destabilized global energy markets, causing an historic supply crunch, high gasoline prices have been the norm throughout Biden’s first 14 months, federal data showed. Experts have blamed the high prices on the administration’s energy and climate policies disincentivizing domestic fossil fuel production.
Since Russia’s invasion, gasoline prices have increased more than 20%, from $3.53 per gallon to $4.24 per gallon, according to the Energy Information Administration. However, pump prices increased a whopping 48.4% between Biden’s January 2021 inauguration and Feb. 21, three days before Russian President Vladimir Putin ordered troops into Ukraine.
Democrats and the White House initially blamed Russia for the entirety of the price increases, calling it “Putin’s gas price hike,” before also accusing oil companies of profiteering off the crisis.
“While there is no denying that Putin’s war has led to instability on global energy markets, I remain concerned that the oil industry is not doing enough to protect American consumers from rising gas prices,” House Natural Resources Committee Chairman Raúl Grijalva wrote to Big Oil executives on March 18. – READ MORE
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