Gas Prices Soar to Record High for 13th Consecutive Day

Gas prices soar to a record high for the thirteenth consecutive day, as it is now $4.98, AAA data revealed.

According to GasBuddy, gas prices are already averaging over $5.00 per gallon and have more than doubled since former President Donald Trump left office.

Prices are expected to increase to more than $6.00 per gallon before Labor Day, JPMorgan commodities analyst estimated. Gas prices are already averaging well above $6.00 in California.

Biden has waged a war on American energy. He has driven up private and public financing costs of oil drilling, halted drilling on public lands, and canceled the Keystone pipeline. Treasury Secretary Janet Yellen, however, blamed the coronavirus and the Ukrainian war for the price spikes.

Trump warned voters that if Biden won the 2020 election, the price of gas would reach at least $7.00 per gallon. “If Biden got in, you’d be paying $7, $8, $9. Then they’d say ‘get rid of your car!’”

Republican National Committee chairwoman Ronna McDaniel told Breitbart News that Biden is forcing Americans to purchase more expensive, fuel efficient vehicles to transition the economy away from American energy.

“Biden promised to eliminate oil and natural gas, now families are paying the price for his anti-American energy agenda. Biden’s solution? Force Americans to drive less or buy an expensive electric vehicle. Biden is out of touch and has no real solutions, no plan, and no sympathy for struggling families.” McDaniel said.

Energy Secretary Jennifer Granholm told reporters last week that American drivers will have to fork over at least four dollars a gallon for the foreseeable future.

According to Sunday polling, 74 percent of respondents said Biden’s soaring gas prices are an “extremely/very important” factor in how they will vote in the midterm elections. Biden’s approval over his management of gas prices is only 27 percent.

Gas prices have fueled inflation. The soaring costs are altering consumer habits, June’s BMO Real Financial Progress Index survey revealed:

• 42% are changing how they shop for groceries. This includes opting for cheaper items, avoiding brand names, and buying only the essentials.
• 46% are either dining out less or consciously spending less when dining out.
• 31% are driving less to offset the soaring cost of gas.
• 23% are spending less on vacations or canceling them altogether.
• 22% are taking measures such as canceling subscriptions to the gym, cable, etc.

Inflation will cost American households on average an extra $5,200 in 2022, or $433 per month, Bloomberg reported.

Follow Wendell Husebø on Twitter and Gettr @WendellHusebø. He is the author of Politics of Slave Morality.