Despite food and gas prices rising before the Russia-Ukraine conflict, President Joe Biden has blamed rising food and gas prices on the conflict. Wednesday Biden admitted he has little power to do anything about either.
“There’s a lot going on right now but the idea we’re going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food,” Biden said while speaking about the baby formula shortage at the White House, according to CNN.
In March Biden hyped his plan to tap into the nation's strategic reserve which result in savings of “anything from 10 cents to 35 cents a gallon."
Since Biden made this claim the gas prices have continued to skyrocket. According to AAA, the average price of a gallon of regular unleaded gasoline hit $4.715.
“We can’t take immediate action that I’m aware of yet to figure out how we’re bringing down the prices of gasoline back to $3 a gallon. And we can’t do that immediately with regard to food prices either,” Biden said.
CNN slaps MASSIVE "I did that" sticker on Biden White House over RECORD-HIGH gas prices pic.twitter.com/SzSj0lklew
— Benny Johnson (@bennyjohnson) May 31, 2022
On May 11, Biden claimed he was going to support farmers which would result in lowering grocery prices, according to a transcript from the White House.
“We’re in a situation where, because of a war in Ukraine, gas prices and food prices are extremely high,” he said, according to CNN.
“For example, we got millions of tons of wheat that is not able to get out and get to market. It’s causing everything from a loaf of bread to cost so much money, to food shortages all across the world,” he said.
“And so we’re trying to work through a war. We’re trying to work through how we can get that harbor opened. And get the, you know, tens of thousands of tons of grain that are there.”
“The same with gasoline,” he continued. “We have the issue that is occurring now. You have Europe deciding they’re going to further curtail the purchase of Russian oil and there’s a whole lot of consideration going on about what can be done to maybe even purchase the oil even at a limited price so that it has to be sold, overwhelming need for the Russians to sell it, and it would be sold at a significantly lower price than the market is generating now.”
It's a dire situation that is putting serious strain on families all across the United States. With the midterms coming, many experts are expecting a red wave at the polls.
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