White House press secretary Karine Jean-Pierre’s recent statement regarding gas prices being well below their peak of 2022 has sparked backlash among conservatives and other social media users who believe that fuel is still too expensive. Despite her reassurance during a press briefing that the average gas price is cheaper than it was at this time last year, critics argue that prices are still high, with the national average currently standing at $3.644 per gallon, up from $3.634 the day before and $3.608 a week prior. Many people took to social media to express their dissatisfaction with the current gas prices, with some pointing out that they have risen significantly since President Biden took office in 2021.
Gas prices in the United States have been on the rise, with concerns that this could impact inflation and discourage the Federal Reserve from cutting interest rates. The recent increase in gas prices, which have gone up by 17 percent so far this year, is a common trend as the weather gets warmer, and people start hitting the roads more frequently. Despite the negative impact on consumers, experts like Patrick De Haan, head of petroleum analysis at GasBuddy, have stated that the current rise in gas prices was expected and is not surprising. GasBuddy’s outlook for 2024 predicts that gas prices may reach as high as $3.89 per gallon at the peak of the summer driving season in May.
The rise in gas prices has been a significant concern for U.S. drivers, as they have continued to increase since Biden took office. In January 2021, gas prices were averaging $2.4 per gallon, rising to over $3 per gallon by December of the same year. The peak of $5.06 per gallon in June 2022 was attributed to various factors, including the Russian invasion of Ukraine. The current administration has been under scrutiny for the impact of rising gas prices on inflation and the overall economy, with critics expressing concerns about the economic implications of these increases for American consumers.
While gas prices are currently lower than their peak in 2022, the continued climb in prices has raised uncertainties about future economic trends. The significant jump in gas prices between March and April, nearing their highest level since October 2023, has led many to question the potential impact on inflation and interest rates. As experts predict that gas prices will continue to rise throughout the summer driving season, there is growing apprehension about the financial strain this could put on American households. Despite reassurances from the Biden administration and experts like De Haan, the reality of steadily increasing gas prices remains a looming concern for many individuals across the country.
