• Tue. Apr 23rd, 2024

Trump Accuses Biden Of Keeping Gas Prices Low Ahead Of Election, Claims They Will Soon ‘Go Higher Than Anybody Ever Imagined’

ByShanthi Rexaline

Sep 18, 2022
Trump Accuses Biden Of Keeping Gas Prices Low Ahead Of Election, Claims They Will Soon 'Go Higher Than Anybody Ever Imagined'

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Donald Trump was at his vitriolic best at a campaign rally he attended in Youngstown, Ohio to support Republican Senate candidate James Vance.

What Happened: Leveling an accusation at President Joe Biden, Trump suggested that he is artificially keeping gasoline prices low just ahead of the 2022 midterm elections, video clips of the speech shared on Twitter showed.

The ex-president noted that the strategic petroleum reserve was at an all-time low and added that he had filled it up. “Now, he is using that to keep prices down as much as he can just before the elections,” Trump said.

“And right after the elections, it’s going to double up and go higher than anybody ever believed.”

He also noted that the strategic reserves are meant to be used for military purposes during a war. The reserves are not supposed to be used to keep prices down for the election, he added.

See also: Trump A Big Reason For Democrats Gaining Momentum Ahead Of Midterms, New Poll Finds

Why It’s Important: Gas prices in the U.S. have been falling since peaking at $5.02 a gallon in June amid the summer driving season. The nationwide average gas price for regular-grade gasoline was $3.678 a gallon, according to data from the American Automobile Association. The White House tweeted on Saturday that gas prices have dropped for 95 straight days across the country.

The drop in gas prices was the primary reason behind the easing of inflationary pressure seen in July and August.

Higher gas prices have the potential to eat into consumer spending, thereby impacting economic growth.

Trump had previously claimed he filled the strategic reserves after it was literally empty, but this was found to be untrue.

Incidentally, Trump himself had ordered the release of the reserves in 2019 when the price of oil was skyrocketing in the aftermath of an attack on production facilities in Saudi Arabia.

Photo: Courtesy of Gage Skidmore on flickr



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Image and article originally from www.benzinga.com. Read the original article here.