Biden’s Relief Strategy Flops
(RepublicanNews.org) – Inflation is yet again causing hardship for American citizens all across the country. The average price of both a gallon of gas and a gallon of diesel reached new record highs this week despite President Biden’s plan to release millions of barrels of oil in an effort to curb fuel prices.
Gas prices are at a record high at the local, state and national level and the overall impact is driving up our prices almost everywhere. https://t.co/hVyueALjnt
— news10nbc (@news10nbc) May 9, 2022
The American Automobile Association (AAA) says that fuel prices are now sitting at approximately $4.374/gal for unleaded gasoline and $5.55/gal for diesel as of May 10. AAA spokesman Andrew Gross places most of the blame for skyrocketing rates on oil prices. Gross notes that higher oil prices typically result in increased fuel costs; the price of oil makes up more than half the fuel price.
Biden recently attempted to curb prices at the pump by releasing 180 million barrels of oil from the US Strategic Petroleum Reserve. However, as critics noted, the strategy did little to alter the course of soaring gas prices — especially for those relying on diesel.
With the price of diesel going up and America’s heavy reliance on diesel-powered transportation methods, inflation isn’t likely to disappear anytime soon. The cost of both fuel and just about every other product will continue to rise simultaneously. It may be a long time before Americans can feel at ease when filling up their vehicles.
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