Biden may get reprieve with gas prices projected to drop
By Rachel Frazin - 12/07/21 03:30 PM EST
The price of gasoline is expected to fall in the coming weeks, a shift that could give U.S. consumers shaken by inflation some relief — and that could also boost President Biden.
The White House has been hammered by Republicans over rising fuel prices, as the cost of gas has skyrocketed from its lows during the pandemic.
The price at the pump is widely seen as a factor in Biden’s falling approval ratings, which have also taken hits from pandemic fatigue, inflation, fallout from the withdrawal from Afghanistan and dissatisfaction over Democratic bickering over the Biden agenda in Congress.
Crude oil hit a peak of nearly $85 per barrel on Oct. 26 but dropped all the way to about $66 per barrel on Dec. 1 amid fears of the new omicron variant of the coronavirus. On Tuesday, prices were back to about $72 per barrel as fears in markets ease over the extent of the danger from omicron.
Prices at the pump didn’t drop immediately, but have come down in recent days, averaging $3.35 per gallon, according to the American Automobile Association (AAA). That’s down from $3.39 a week ago and $3.42 a month ago — which is likely not enough to provide much of a relief to U.S. drivers.
AAA spokesman Andrew Gross said crude prices remain between $60 and $70, and that will deliver cuts to consumers.
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https://thehill.com/policy/energy-environment/584754-biden-may-get-reprieve-with-gas-prices-projected-to-drop
