President Joe Biden is vowing to continue efforts to bring down gas prices for drivers while touting his earlier efforts to do so.
During an event on Wednesday, Biden said, “Two weeks ago I announced the largest ever release of the U.S. Strategic Petroleum Reserve to increase the supply of oil to help bring down prices. I met with our friends around the world and other countries joined us. And those savings are starting to reach drivers now.”
“Today, the average price you’re paying here in Kansas City is below three dollars a gallon, it’s down to $2.90 a gallon. Twenty cents down from a month ago. Nationally, prices are down seven cents a gallon and continue to fall. We’re making progress,” he continued.
Finally, he said, “We’re gonna keep at it to ensure the American people are paying their fair share for gas, not being gouged for gas.”
Watch the video below:
President Biden: "Nationally, [gas] prices are down seven cents a gallon and continue to fall. We're making progress. We're gonna keep at it to ensure the American people are paying their fair share for gas, not being gouged for gas." pic.twitter.com/tNPKHTeAwf
— The Hill (@thehill) December 9, 2021
In November, Biden announced the U.S. would release 50 million barrels of oil from the Strategic Petroleum Reserve “to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply.”
Days after the announcement, he tweeted, “This week, we launched a major effort to moderate the price of oil — an effort that will span the globe in its reach and ultimately reach your corner gas station.”
“It will take time, but before long you should see the price of gas drop where you fill up your tank,” he added.
This week, we launched a major effort to moderate the price of oil — an effort that will span the globe in its reach and ultimately reach your corner gas station.
— President Biden (@POTUS) November 27, 2021
It will take time, but before long you should see the price of gas drop where you fill up your tank.
According to AAA, as of Thursday, the average price for a gallon of gas nationally is $3.33, down from $3.41 a month ago.
The U.S. Energy Information Administration said on Tuesday that it expects the average price of gas to drop to $3.01 a gallon in January and will average $2.88 in 2022.
