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Gas prices in the U.S. have risen significantly over the past year under President Biden, topping $3.54 per gallon on average in recent weeks.
This is over a dollar higher than when Trump left office.
Factors driving the increase include Biden’s policies scaling back domestic energy production, geopolitical tensions in the Middle East and Ukraine, and expectations that OPEC will maintain production cuts.
The nationwide average for regular gas is $3.54/gal — up 20 cents in the last month and almost 50% since Biden took office.
Many states are seeing average prices well above $4/gal. pic.twitter.com/hSmPO2mHmB
— RNC Research (@RNCResearch) April 3, 2024
Consumers are feeling the financial impact, with some changing driving habits as a result.
“Since gas prices have gone up I had to get this car right here, which is a gas saver for me. I used to have a truck and I would pump almost every day, now it’s every other day,” California resident Jose Torres said.
Analysts predict prices could continue rising to over $4 per gallon by summer. While some say current prices are normal, others note they are historically high compared to recent years.
“I just don’t see it going down,” King Operating Corporation CEO Jay Young said. “So if you want to drive further this summer, be prepared to pay more. Unfortunately, be prepared to pay more.”
The rising costs are putting pressure on American households.
“We’re basically right on par with what we tend to see,” said Patrick de Haan, head of petroleum analysis at GasBuddy.
