On October 5, 2020, the average price of a gallon
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Posted On: 03/19/2022 1:02:29 PM
On October 5, 2020, the average price of a gallon of gas in the USA was $2.18 just ahead of the 2020 elections.
The national gas price average was at the cheapest for the month of since 2016, when Donald Trump was elected President. That average was nearly 50 cents cheaper than in 2015. These are simply recorded facts. We’ll decide what to make of these facts at the end of this report.
When Barack Obama took office in 2009, the average price for a barrel of crude oil was $61.95. By the beginning of Obama’s second term in 2013, that price had peaked at $97.98 per barrel, up 58.2% during Obama’s first term.
In contrast, when Trump took office in 2017, that average cost of crude was $50.80 a barrel. By the end of Trump’s first term, the crude price was down to $39.68 a barrel, and America was 100% energy independent for the first time in decades.
Now, since January 20, 2021, and the beginning of the alleged Biden administration, the price of crude has skyrocketed from Trump’s $39.68 a barrel to $98.00 per barrel, projected by Biden to reach more than $103.01 per barrel in 2022, which does not yet consider any adjustment for what’s currently happening in Russia and Ukraine!
International crude producers are projecting crude will reach more than $200 a barrel before end of year 2022 .
As of today, this is a record increase in crude prices of 131.6% in just the first 12-months of the Biden administration, before any impact from the Russia-Ukraine conflict. During the same time frame, the price of a gallon of gas at the pump has already increased 108.3%, and they are just getting started.
That explains why Biden’s economic advisers are predicting that Biden’s record inflation rate will continue to rise every month for the foreseeable future, because the price of crude drives the price of gasoline, and the price of gasoline drives the price of everything else.
https://ussanews.com/what-impacts-the-price-of-gas/
The national gas price average was at the cheapest for the month of since 2016, when Donald Trump was elected President. That average was nearly 50 cents cheaper than in 2015. These are simply recorded facts. We’ll decide what to make of these facts at the end of this report.
When Barack Obama took office in 2009, the average price for a barrel of crude oil was $61.95. By the beginning of Obama’s second term in 2013, that price had peaked at $97.98 per barrel, up 58.2% during Obama’s first term.
In contrast, when Trump took office in 2017, that average cost of crude was $50.80 a barrel. By the end of Trump’s first term, the crude price was down to $39.68 a barrel, and America was 100% energy independent for the first time in decades.
Now, since January 20, 2021, and the beginning of the alleged Biden administration, the price of crude has skyrocketed from Trump’s $39.68 a barrel to $98.00 per barrel, projected by Biden to reach more than $103.01 per barrel in 2022, which does not yet consider any adjustment for what’s currently happening in Russia and Ukraine!
International crude producers are projecting crude will reach more than $200 a barrel before end of year 2022 .
As of today, this is a record increase in crude prices of 131.6% in just the first 12-months of the Biden administration, before any impact from the Russia-Ukraine conflict. During the same time frame, the price of a gallon of gas at the pump has already increased 108.3%, and they are just getting started.
That explains why Biden’s economic advisers are predicting that Biden’s record inflation rate will continue to rise every month for the foreseeable future, because the price of crude drives the price of gasoline, and the price of gasoline drives the price of everything else.
https://ussanews.com/what-impacts-the-price-of-gas/
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