The American People Aren’t Buying Republican Lies On Gas Prices
April 11, 2022
Republicans have turned gas prices into a political talking point to try to mislead Americans by putting the blame on President Biden and Democrats with zero regard for the fact that oil companies and President Putin are responsible for the high gas prices. But the American people aren’t buying it.
New polling shows voters recognize Vladimir Putin’s war in Ukraine as well as oil and gas companies looking to make a quick buck off Americans’ struggles are responsible for higher prices at the pump.
ABC News: “Most Americans blame Vladimir Putin, oil companies for high gas prices: POLL”
ABC News: “In the ABC News/Ipsos poll, which was conducted by Ipsos in partnership with ABC News using Ipsos’ KnowledgePanel, more than two-thirds of Americans blamed Putin (71%) and oil companies (68%) a ‘great deal’ or a ‘good amount’ for the increases in gas prices.”
Despite lower crude oil prices, Americans are still seeing high gas prices because gas stations are reluctant to lower prices.
Washington Post: “This pattern is so common, especially with gas prices, that economists have a pet name for it: rockets and feathers. When crude prices jump, pump prices tend to rise like a rocket. But when crude prices fall, pump prices tend to descend gently, like a feather.”
Washington Post: “When the oil industry gets lucky and prices rise, executives reap the benefits, according to an Energy Journal analysis of pay at 78 U.S. energy companies by University of Michigan economist Catherine Hausman and UC Berkeley economist Lucas Davis.”
Politico: “Oil prices have declined by about 20 percent from their early March peak, while retail gasoline prices have retreated only about 4 percent and stood at $4.16 a gallon nationally on Wednesday, according to the American Automobile Association.”
President Biden and Democrats are working to hold gas companies accountable, and gas prices are coming down.
NPR: “Biden plans a major withdrawal from the country’s oil reserves to control gas prices”
CNN: “Biden announces historic oil reserve release and presses oil companies to do their part to reduce gas prices”
NPR: “Gas prices have declined, though, since the U.S. announced plans to release up to 180 million barrels from its emergency stockpiles.”