Downriver Today

President Joe Biden is to blame for rising gas prices throughout the U.S., although he faults the Russian invasion of Ukraine on Feb. 24, a U.S. senator from Tennessee has said.

U.S. Sen. Marsha Blackburn (R-Tennessee) has criticized Biden for his part in rising gas prices even as inflation hit 8.5% in March, a sizable portion of which was due to gasoline costs, the U.S. Bureau of Labor Statistics reported on April 12.

The Consumer Price Index (CPI) for All Urban Consumers increased 1.2% in March. Over the last 12 months it climbed to 8.5%, the largest 12-month increase since December 1981, the bureau said. CPIs, which are used to measure inflation, are based on the prices of goods and services people buy to live, including food, shelter, clothing, fuels and transportation.

“Increases in the indexes for gasoline, shelter and food were the largest contributors to the seasonally adjusted all items increase,” the bureau said about the latest CPIs. “The gasoline index rose 18.3% in March and accounted for over half of the all items monthly increase.”

In one year, gas rose over 48%, Blackburn said on Facebook, blaming Democrats' reckless spending for the “runaway inflation train.”

“On the day that President Biden took office, the average gallon of gas was $2.38. At the time of Putin’s invasion of Ukraine, the average price was $3.53. This isn’t Putin’s price hike — it’s because of Joe Biden," Blackburn tweeted on Twitter.

The average price of regular gasoline as of Monday in Michigan was $3.920 per gallon, the American Automobile Association (AAA) said.  One week before, the average price was $3.942, and one year ago, it was $2.789.

Biden said in remarks on March 31 that the rising cost of gas was due to both the COVID-19 pandemic and Russian President Vladimir Putin. The coronavirus pandemic caused demand for oil to decrease, slowing down production worldwide, Biden said. 

“Because of the strength and the speed of our recovery, demand for oil shot back up much faster than the supply. That’s why the cost of gas began to rise last year,” Biden said in his remarks. “At the start of this year, gas was about $3.30 a gallon. Today, it’s about — averaging $4.20, $4.22. It’s higher in many states. Nearly a dollar more in less than three months. And the reason for that is because of Putin’s war.”

According to economic data from the Federal Reserve Bank of St. Louis, American gas prices climbed 13.6% from the start of Russia's invasion on Feb. 24 to Monday, April 11. This is less than half the price hike that occurred from the time Biden took office until the war began, the St. Louis bank reported. 

To help stem rising gasoline prices, Biden authorized the release of 1 million barrels per day for six months from the Strategic Petroleum Reserve until production increases. He also called on U.S. oil companies to produce more oil.

The national average price of gasoline is decreasing “as countries plan more emergency oil reserve releases,” AAA said.