There seems to be an adverse relationship between President Joe Biden’s approval rating and gas prices.

An Adverse Relationship Between President Joe Biden’s Approval Rating And Gas Prices

There seems to be an adverse relationship between President Joe Biden’s approval rating and gas prices.

As Biden continues to sink, gas gets more expensive. On Sunday, AAA reported that the average national price of gas was $4.01 a gallon.

That’s up 29 cents a gallon since Thursday, and up 57 cents from a month ago. According to CNBC, this is the highest national average price since July 2008, in the middle of the Great Recession, when it topped out at $4.11 a gallon.

A year ago, in contrast, the average per-gallon price across America was $2.76. Currently, the most exorbitant prices for regular unleaded are in blue states. California posted the highest, at $5.29 a gallon.

Although not as bad as the Golden State, others in the Democrats’ column were up there. According to AAA, Washington state, Oregon, Hawaii, Illinois, New York, Connecticut were in the next tier, between $4.18 and $4.70 a gallon.

Yet some red states are not far behind.

The average price in Florida, for example, is $3.96 a gallon. And gas runs at least $3.80 on average in places like South Carolina, Tennessee, and Indiana.

The cheapest gas, relatively speaking, is in the belt that runs right down the middle of the country, from North Dakota to Texas, and includes adjacent states like Wyoming, Arkansas, Missouri, Iowa, and Mississippi.

Missouri and Oklahoma boast the lowest average prices, around $3.60 a gallon. Oil industry analyst Andy Lipow told CNBC the average national price could soon hit $4.50 a gallon. Florida motorists are feeling the pain at the pump literally daily.

For example, AAA noted that the average price in Sarasota on Saturday was $3.80; by Sunday, it was $3.95. Other metros reported likewise. In Tampa and Lakeland, the one-day spike from Saturday to Sunday was 14 cents; Orlando and Jacksonville, 16 cents; Naples, 17 cents; Miami, 13 cents.

No relief seems to be in sight, no matter what the Biden administration wants to do, so long as it refuses to open the oil taps in America.

In a recent press release, AAA noted, “An increase in gas demand, alongside a reduction in total supply, is contributing to price increases, but increasing oil prices continue to play a leading role in pushing prices higher. Pump prices will likely continue to rise as crude prices continue to climb.”  

AAA attributed the rocketing crude prices to the “uncertainty” in Ukraine.

AAA also noted that the International Energy Agency announced 60 million barrels would be released from members’ stockpiles – about half of which would come to America.

But that move is blunted because “the amount of oil is small in comparison to the amount of oil that flows daily from Russia around the globe.”

Russia ships 5 million barrels a day, or 12 percent of the global oil trade.

“The market will likely continue to increase the price of oil as more sanctions are imposed on Russia. A potential ban of crude imports from Russia to the U.S. or other countries will likely cause prices to continue to rise to reflect more risk of disruption to tight global oil supplies,” AAA pointed out.

Biden Approval Index History

DATEAPPROVAL INDEXSTRONGLY APPROVESTRONGLY DISAPPROVETOTAL APPROVETOTAL DISAPPROVE
07-Mar-22-2223%45%44%54%

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One Reply to “An Adverse Relationship Between President Joe Biden’s Approval Rating And Gas Prices”

  1. Stop spending money or paying taxes until 2023. If the GOP fails to win massive majorities in the House and Senate AND fails to impeach and remove Biden then continue the economic boycott plus get busy wrecking everything.

    FJB

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