Thursday, April 18, 2024

Gas Prices Are Falling This Holiday Season And Republicans Are Silent

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Gas prices are steadily falling closer to a national average of under three dollars a gallon, which is another success for Biden.

President Biden’s Twitter account tweeted:

Right now, the average price of a gallon of gas is $3.32, down 13 cents in a week. And below the price of gas one year ago.

Our actions are working to get American families meaningful savings.

— President Biden (@POTUS) December 9, 2022

According to AAA, gas prices have dropped even lower to a national average of $3.29.  At the current pace, the national average for a gallon of gas will be under $3.00/gallon within a month.

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AAA notes that the reason for the decline in gas prices is market economics, “Total domestic gasoline stocks rose significantly by 5.3 million bbl to 219.1 million bbl. Increasing supply and lo gasoline demand is pushing pump prices lower. As demand remains low and stocks grow, drivers will likely continue to see pump prices decrease through next week. ”

The domestic supply of gasoline is higher than driver demand, so the price to fill up is dropping. Republicans claimed that Biden was depleting the domestic stock of fuel, but spoiler alert, they were not telling the truth.

President Biden has navigated the country through an unprecedented time, and it is good to see his administration taking credit for something that they led on.

The gas prices story is an example of how much of the media has no interest in positive news.

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