Thursday, July 7

President Biden Says He Doesn’t Know When America’s Soaring Gas Prices Will Drop, But “It Won’t Be This Year”


The price of fuel has skyrocketed inside and outside the US.

Photo: Carlos García / EFE

Uncertain was President Joe last night Biden admitting to CNN that he has no immediate solution to the problem of rising gasoline prices and suggested that Americans wouldn’t start to see relief at the pump until next year.

“I guess you will start to see a drop in gas prices as we move into winter, I mean, excuse me, in the next year, 2022 ″, the president said to the moderator Anderson Cooper in the interview in Baltimore.

“I don’t see anything going to happen in the meantime that significantly reduces gasoline prices…. I must tell you that I don’t have a short-term answer ”, added Biden before reflecting on the possibility that “it could enter the Reserve [Estratégica] of Oil and take out and probably reduce the price of gas maybe 18 cents or so per gallon, [pero] yet it will be above three dollars ”.

According to the American Automobile Association (AAA), the price National average of a gallon of regular gasoline reached $ 3.36 yesterday, four cents more than Monday’s average. The organization noted that at the moment no state had an average price of gasoline lower than $ 3 per gallon, reported New York Post.

On the central coast of California, a gallon of unleaded gasoline cost $ 7.59 dollars, while last week Manhattan (NYC) motorists were paying nearly $ 5 per gallon to fill your tank.

AAA attributes the increase to high demand, high crude oil prices and a drop in gas stocks, of which Biden on Thursday indicted OPEC and its oil-producing allies in the Middle East.

Consumer prices in the US rose 0.4% in September from August as costs for new cars, food, fuel, electricity and restaurant meals increased. Gasoline prices rose 1.2% last month and have soared more than 42% compared to 2020.

The energy crisis in Europe and the reduction in oil production in the US have impacted the available supply, increasing the price at the pump ”, he summarized Pix11.

In June, the Bureau of Labor Statistics (BLS) reported that the Labor Department’s consumer price index had risen 5% in the past 12 months, the highest number since the great recession of August 2008. Inflation has continued to rise since then.

In response, In New York, the help received by poor families in the Supplemental Nutrition Assistance Program (SNAP) was increased since this month.




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