Biden wrongly got blamed for rising gas prices. But he doesn't deserve much credit for the drop
CNN
The only thing that climbed as high as gas prices earlier this year was the disapproval of President Joe Biden, as Americans blamed him for record prices at the pump. But Biden had relatively little control over the prices set primarily by global markets.
If Biden got too much blame for when the price of gasoline shot up to a record $5.02 for a gallon of regular by mid-June, he is now hoping he gets credit for the steady drop in gas prices to below $4. There have been 71 straight days of declining prices to $3.88 a gallon as of Wednesday according to AAA.
Biden did order the release of about 1 million barrels of oil a day from the nation's Strategic Petroleum Reserve, or SPR. But that was responsible for maybe 15 cents of the $1.13 decline in price over the last 10 weeks, according to Andy Lipow, president of consultant Lipow Oil Associates.
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