In the face of Joe Biden’s failing economy, President Trump reminded Americans that just a few years ago, his administration had rocketing oil and gas prices at all-time lows.
“Gasoline has just hit a 5 month high,” Trump wrote on Truth Social.
“Now that Biden has emptied the Strategic Oil Reserves, which should never have been done, here we go again…And so unnecessary. I had oil and gas at long term Record Lows – And NO INFLATION!” he added.
This week, AAA’s national average on the price of gas was $3.76 per gallon. Their highest recorded average was June 2022, when the nationwide price per gallon averaged at $5.01.
In the past, President Trump has pointed out that under his administration, “gas was $1.87 at one point.”
In March, Trump ripped the Biden regime for creating an “economic catastrophe” and pushing the United States into “the highest inflation in decades.”
As reported by RSBN, he stated in a policy video, “Biden and the radical Democrat Congress single-handedly created the highest inflation in decades. They spend trillions of dollars to wage war on American energy, and pursue the socialist joke known as the Green New Deal.”
In 2022, the second quarter report from the Bureau of Economic Analysis confirmed that GDP had declined yet again, indicating two contracted quarters of economic growth. RSBN also reported that Biden spiked inflation from 1.4 percent when he took office in January 2021 to 9.1 percent in June 2022.
The Wall Street Journal’s Alexander Zemek revealed in September 2022 that Joe Biden had released more oil from the country’s Strategic Petroleum Reserves than every other president in history combined, bringing the oil reserve down to its lowest level since 1984. The emptying of the reserves has coincided with an escalation in violence in Eastern Europe amid rumblings of China and Russia joining forces against Ukraine.