Joe Biden’s inept leadership brings the US economy upside down. And now, in another blow to the US economy, prices at the pump soared to fresh record highs.
On Tuesday, retail gasoline prices in the United States rose and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.
We still can remember how Biden killed off 42,100 jobs by ending the construction of the Keystone XL Pipeline on his first day in office. The project would have delivered 830,000 barrels of crude to the US every day.
According to the American Automobile Association, the average cost of a retail gallon of gasoline hit $4.374 early Tuesday, surpassing the former record of $4.331 on March 11.
The price has jumped 17 cents in just one week and 25 cents in the past month.
Since the 2020 election, gas prices have doubled s. Gas was $2.11 a gallon back in November 2020 compared to now which is 4.37 a gallon.
Gas prices are expected to continue to rise through Memorial Day weekend.
More details of this report from WPXI:
Gas prices are continuing to rise to new record highs, with the national average at $4.36 per gallon.
The previous record national average was $4.35 per gallon, recorded on March 10 after the Russian invasion of Ukraine began, according to GasBuddy. The ongoing crisis in Ukraine has caused gas prices to remain volatile, according to GasBuddy.
Gas prices are expected to continue to rise going into Memorial Day and the summer. Ultimately, the continuing rise of gas prices may put a lot of summer road trips on hold this year.
“Liquid fuels have turned into liquid gold, with prices for gasoline and diesel spiraling out of control with little power to harness them as the imbalance between supply and demand globally continues to widen with each passing day. Russia’s oil increasingly remains out of the market, crimping supply, while demand rebounds ahead of the summer driving season. There’s little, if any, the good news about fuel prices heading into summer, and the problem could become worse should we see an above-average hurricane season, which could knock out refinery capacity at a time we badly need it as refined product inventories continue to plummet,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Clearly, Joe Biden and Nancy Pelosi’s leadership is a total failure…