Americans nationwide are reacting to the skyrocketing gas prices. Many expressed outrage after White House Press Secretary Karine Jean-Pierre delivered a response to the ever-increasing gas prices during a press briefing on Monday, April 15, 2024.
Americans criticized Jean-Pierre’s speech at the press briefing. When asked about rising gas prices, Jean-Pierre responded, “The average gas price right now is cheaper than this time last year.” This statement sparked outrage as it didn’t reassure citizens amid a 5.2% monthly increase.
After the Republican National Committee shared the press conference on social media, commenters expressed their frustrations. “Used to be two bucks. Now it’s over three bucks,” one wrote. “The fact that it’s not four bucks anymore doesn’t change the fact that it’s still high.”
Another argued, “Are you impressed by gas prices under Biden?” Despite the widespread frustration, the Biden administration says Americans should find solace in the fact that gas prices today are lower than they were a year ago. Gasoline prices are unstable, changing based on global oil prices and the economy’s overall health.
ALSO READ: Here’s Why Gas Prices Have Spiked Again
Unfortunately for drivers, the cost of a gallon can increase substantially from one month to the next. Americans go to bed unsure of how much their commute to work will cost the next day. Since gas prices directly impact most Americans, any spike in cost is a cause for concern.
When President Joe Biden became President, the average gas gallon cost was $2.40. However, within 12 months, the price climbed to $3 per gallon; by 2022, a gallon cost $5.06 on average. While the cost has declined to $3.64 recently, that’s still 50% higher than when Biden assumed office.
As earlier stated, gas prices in the United States are notoriously volatile, changing almost daily for various reasons. According to experts, a few major factors contribute to the frequent fluctuations in cost per gallon. Like any commodity, the principle of supply and demand largely determines gas prices.
POLL—Should the Government Increase Taxes on the Wealthy To Reduce Economic Inequality?
When demand for gas is high, especially during peak driving seasons, gas companies raise prices. There have been calls from both political parties for the government to take steps to lower gas prices. The steps include increasing domestic oil production, suspending gas taxes, or providing direct subsidies to drivers.
However, experts argue that the government cannot control oil markets. In 2022, gas prices in the US skyrocketed to over $5 per gallon, the highest Americans have seen in decades. According to experts, several factors contributed to the surge.
They include increasing demand and reductions in domestic oil production. Furthermore, global geopolitical issues like the Russian invasion of Ukraine also contributed to the surge. These high gas prices have significantly impacted Americans, especially working families and small business owners.
ALSO READ: These States Plan to Ban the Sale of Gas-Powered Cars
For many hourly and low-income workers, the extra money spent on gas cut into budgets for essentials like food, housing, and medication. With the 2024 election looming, Biden may need to consider consumers’ concerns over gas prices more seriously.
Reminding Americans that costs aren’t as high as they were will not ease their frustration and financial strain.
You Might Also Like:
Tax Experts Say Sen. Ted Cruz May Be in Trouble With the IRS
Court Sentences Man Who Stormed Capitol Hill With Confederate Flag to Prison
Students Accuse Police of Using Rubber Bullets, Teargas at University Protests in Georgia
New York Court Overturns Rape Conviction of Movie Producer Harvey Weinstein
Walmart Removes Self-Checkouts to “Improve In-Store Experience” for Customers