Posted BY: John F. Di Leo
The Whitewash House is claiming credit for “gas prices going down 44 days in a row.”
Amazingly, the Biden-Harris regime is trying to get away with claiming that it deserves political points for fuel pump price drops this midsummer, in the desperate hope that it will blunt some of the election backlash the Democratic Party rightly deserves this fall.
Their claim is unjust for a host of reasons.
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Nationally averaged gas prices always drop a bit in June and July. This happens because gas prices always spike nationally in May, because of the costly annual EPA-mandated switch to the summer blends in our overregulated big cities. The slight drops we have seen in recent weeks are therefore just a matter of the marketplace completing its annual adjustments after that costly artificial changeover. Your pump price remains more than double what you were paying when President Trump was in office.
If we really wanted to help the country, long-term, we would stop mandating these micromanaged fuel blends entirely. But as long as this ongoing mandate remains, we will see late spring spikes and midsummer reductions. This is nothing for which the Biden-Harris regime can take credit.
The next thing to look at is diesel fuel. Both gasoline and diesel come from the same original raw material: petroleum. If the regime were really doing anything to reduce prices, then both would be going down, wouldn’t they? But no, diesel remains at record highs. Not only do some passenger vehicles run on diesel, but almost all commercial transportation vehicles depend on it.
