The ups and downs of energy prices have been mostly up over the last 2½ years. And that’s no accident. Americans are paying dearly for the fuel that drives the modern world, thanks to President Biden’s meddling in domestic oil production.
The characteristic sawtooth pattern of oil prices on the global market has taken a steeper upward jag lately, climbing more than $10 a barrel since Saudi-led OPEC curtailed production by 1 million barrels a day this month.
Subsequently, U.S. drivers have been greeted by gasoline prices that, on average nationally, have risen 6 cents a gallon in a month. On the local level, overnight spikes of 25 cents are not unusual.
Gas prices have risen more than 50% since Mr. Biden moved into the Oval Office, yet the White House has been declaring victory because the pain at the pump doesn’t sting nearly as much as it did a year ago, when a gallon of gas peaked at $5 nationally.
Join the conversation as a VIP Member