An influential political advocacy group is partnering with gas stations nationwide this week. They aim to remind Americans of gas prices from four years ago. On Monday, Americans for Prosperity (AFP) will begin a series of events to roll back gas prices across the country, offering a "pre-Bidenomics break at the pump."
Over 20 gas stations will participate, with prices dropping to as low as $2.38 per gallon. This price mirrors the average cost of gas when President Biden took office. "Biden’s war on American energy has had disastrous results and Americans are reeling from high gas prices going into the summer," said Akash Chougule, AFP vice president of government affairs.
Chougule criticizes Biden's energy policies, such as closing the Keystone Pipeline and banning energy leases on federal land. "This week, we are spotlighting what gas prices could be with policies that unleash our country’s energy potential," he stated.
The first rollback event began at a Sunoco station in Pittsburgh and will end on May 29 in Oregon. AFP expects about 4,000 drivers to benefit from reduced prices this week. Senator Cynthia Lummis, a Republican, plans to join an event in Wyoming, emphasizing the economic impact of Biden's policies.
"Since President Biden took office, his spending spree has resulted in the people of Wyoming paying nearly $1200 more a month for basic goods and services," Lummis commented. She looks forward to reminding people of the administration's impact on their finances.
Inflation and high gas prices have marked Biden's presidency, with inflation peaking at 9% in 2022. The national average for gas was $3.59 per gallon on Monday, a significant increase from January 2021. Republicans blame Biden's policies for the 41% rise in energy costs over four years.
Despite recent declines, gas prices remain high. Lael Brainard, a national economic adviser, assured at a summit that the administration is committed to keeping gas prices affordable. Meanwhile, gas prices continue to slowly decrease, influenced by low domestic demand and oil costs under $80 per barrel.
AAA attributes the slow reduction in gas prices to these factors. "Barring some unforeseen event, this pokey drop in pump prices is not likely to change anytime soon," said AAA spokesperson Andrew Gross. Some states now see averages below $3 per gallon.
In response to previous price surges, Biden has released oil from the Strategic Petroleum Reserve (SPR). The reserve's level is at its lowest in decades, drawing criticism from Republicans. Former President Trump has criticized Biden's handling of gas prices, promising to reduce them by increasing drilling.
John Podesta, a White House senior adviser, hinted last month at the possibility of further releases from the SPR to keep gas prices manageable. "The president did it before... and I think he wants to keep the price of gasoline affordable, and he will do what he can to make sure that happens," Podesta said. However, he did not confirm any immediate plans to tap into the SPR.