Jennifer Granholm, President Joe Biden’s Energy Secretary, told reporters on Thursday that drivers will have to pay at least $4 per gallon for the foreseeable future.
Below is the video from early Thursday–
Biden Energy Secretary Jennifer Granholm: "The price of gas is likely to remain above $4/gallon." pic.twitter.com/cA4lOkj9ka
— RNC Research (@RNCResearch) June 2, 2022
Granholm has previously stated that rising gas prices will encourage people to purchase more expensive, fuel-efficient vehicles.
According to AAA data released on Thursday, gas prices have risen nine cents in the last two days to $4.715. A total of 18 states have gas prices that are around $5 per gallon. On May 18, JPMorgan Chase expressed concern that the national average price of gasoline could rise to $6 per gallon. California has already surpassed the $6 mark.
U.S. motor gasoline demand will open the summer driving season at 9-year lows, down 7% from typical levels. The national average price of regular unleaded #gas hit $4.715 per gallon on Thursday, another record high and up 55% from a year ago, according to AAA. pic.twitter.com/UsVaCKXaFp
— Karen Braun (@kannbwx) June 2, 2022
Gina Raimondo, the Commerce Secretary, was also questioned about Biden’s high gas prices. Raimondo said she didn’t know when gas prices would return to pre-Biden administration levels. “Nobody has a crystal ball,” she explained.
Inflation has reached a 40-year high due in part to rising gas prices. Bloomberg estimates that inflation will cost American households an extra $5,200 in 2022, or $433 per month. According to a BMO Real Financial Progress Index survey, inflation will also delay retirement for 25% of Americans.
Cost-cutting measures are turning Democrats against the Biden administration. In the New York Times on Thursday, Democratic Rep. Ro Khanna (CA) slammed Biden for not doing enough to reduce price increases. Khanna’s proposed solution to the manufactured crisis was to expand big government.
According to the Washington Post, instead of accepting responsibility for the rising costs, Biden has blamed aides for being unable to reduce the inflation he has fueled with his energy and fiscal policies.
In addition, Biden has launched a public relations campaign to defend his political vulnerability on the issue. As part of the public relations campaign, Treasury Secretary Janet Yellen admitted during a press conference on Tuesday that she and the president had underestimated inflation’s rise to a 40-year high.
