Gas prices set records for 2 weeks straight as Biden struggles to reassure America
The economic impact of policies on voters’ wallets tend to impact their electoral decisions
Gas prices hurting middle, low-income families: Rep. Michelle Steel
Rep. Michelle Steel, R-Calif., discusses the impacts of record-high gas prices.
Gas prices have hit record highs for two straight weeks while President Biden claims that the rise in prices is transitory toward a greener economy.
Biden made the claim during a press conference in Japan, where he insisted that his administration's actions helped keep gas prices "from getting worse." He continued by saying the US and world are going through an "incredible transition" to green energy as the prices posted on gas station signs climb higher by the day.
RECORD GAS PRICES FOR THIS LONG ‘UNPRECEDENTED’: AAA
Fuel prices at a gas station in New York, U.S., on Tuesday, May 17, 2022. From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets acr (Stephanie Keith/Bloomberg via Getty Images / Getty Images)
"When it comes to the gas prices, we're going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over," Biden said.
Republican National Committee (RNC) chairwoman Ronna McDaniel told FOX Business that because "of the Biden Gas Hike, Americans are feeling the pain at the pump now more than ever."
"Paired with historic inflation and shortages for basic goods like baby formula, the rising cost of gas is the result of Joe Biden and Democrats’ anti-U.S. energy agenda," McDaniel continued. "Unfortunately, Biden only plans to make this crisis worse for families by not doing anything."
Gas prices, however, have broken records for two consecutive weeks, putting strain on Americans’ wallets and the economy as a whole.
GAS PRICES WILL SURPASS $6 NATIONWIDE BY AUGUST, JPMORGAN SAYS
U.S. President Joe Biden delivers a speech during the state dinner hosted by South Korean President Yoon Suk Yeol at the National Museum of Korea, in Seoul, South Korea, Saturday, May 21, 2022. (AP Photo/Lee Jin-man, Pool / AP Newsroom)
Currently, according to the American Automobile Association (AAA), the new highest national average gas price ever recorded came on Monday, with regular unleaded fuel costing $4.596.
The national average for a gallon of gas was $4.59 on Friday, a slight increase from the day before and a new record high.
Thursday’s record was 16 cents higher than the week before, nearly 50 cents higher than the month before and $1.55 more compared to the same time last year.
All 50 states had a national retail price over $4 a gallon on Thursday, according to AAA, with Oklahoma offering the cheapest gas at $4.03 a gallon and California offering the most expensive gas with an average of $6.06.
Tighter supply and increased demand have pushed gas prices higher, according to the association.
The economic impact of policies on voters’ wallets tend to impact their electoral decisions, especially when that impact affects them physically getting to their jobs.
The record high gas prices will only serve to harm Democrats as they stare down a tough election year that analysts say favor Republicans.
High gas prices are seen in front of a medical billboard Wednesday, May 11, 2022, in Milwaukee. (AP Photo/Morry Gash / AP Newsroom)
Additionally, the Biden administration’s messaging on the gas price crisis has drawn fire for encouraging people to buy pricey electric vehicles amid historic inflation.
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That messaging illustrates an apparent disconnect within the White House’s policies and the facts of life facing Americans as warnings of a recession continue to brew.
High gas prices can also further push the U.S. toward an economic downturn, as higher fuel costs can impact every supply chain sector from farms to packaging plants to grocery stores.
The Democratic National Committee (DNC) did not immediately respond to FOX Business' request for comment.
FOX Business' Talia Kaplan contributed reporting.