Tipsheet

What KJP Got Wrong About Gas Prices

Leah Barkoukis
Leah Barkoukis  |  September 07, 2023 2:00 PM

During a press briefing on Wednesday, White House Press Secretary Karine Jean-Pierre was asked about Saudi Arabia’s decision to extend oil production cuts – an announcement that came a day earlier when the Kingdom said its current reduction of 1 million barrels per day would remain for another three months, though it would be subject to monthly review. Russia also made a similar decision to extend its voluntary reduction in oil exports until the end of the year. 

Jean-Pierre used the opportunity to tout this summer's gas prices.

Q    … [W]hat’s your reaction to that?  How does that complicate your effort to lower gas prices? 
 
 MS. JEAN-PIERRE:  So, look, it — it doesn’t complicate our efforts.  We’ve been very clear.  The President has said at the — at the — at the top, or the center, of his economic policy is lowering costs for Americans, right?  And — and so, our focus is going to be abou- — about American consumers, how we can continue to do that. 

If you look at what we’ve been able to do th- — from last summer to this summer — lowering gas prices by a — by a dollar twenty cents — that is — that is because of the work that this administration has done.  And so, we’re always going to be focused on how — what — you know, what — what steps we can take to continue to lower prices for Americans. (White House transcript) 

The current national average for regular gas is at $3.80 per gallon, according to AAA, higher than this time last year when the average stood at $3.76. As Bloomberg notes, pump prices are also at the highest seasonal level in over a decade.

While average prices were down earlier this summer from their high last year during the late spring/early summer when prices peaked at $5.01 per gallon in June, they're still far above where they were the day President Biden took office, when the national average was $2.39, according to AAA.  

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