Biden Says Defending “Freedom” for Ukraine will Mean Higher Gas Prices Than His Already Record High Gas Prices
Gas prices reached their highest level since 2014 when Obama was in the White House earlier this month.
The current gas prices remain at Obama adminstration levels.
Advertisement - story continues below
On Tuesday Joe Biden assured American consumers that the price of freedom in Ukraine means gas prices could go higher.
President Biden acknowledges US gas prices may keep rising due to his sanctions:
“Defending freedom will have costs for us as well, and here at home. We need to be honest about that.” pic.twitter.com/fuGH7gdc8d
— Breaking911 (@Breaking911) February 22, 2022
Via AAA the gas prices are already at multi-year highs under Joe Biden.
The potential invasion of Ukraine by Russia is having a rippling effect on the oil market, which in turn is driving up the price of gasoline in the U.S. The national average for a gallon of gas has risen to $3.53, four cents more than a week ago.
A Russian attack would be met by severe financial sanctions led by the United States and its allies. Russia will likely retaliate by withholding oil from the world market, which is already tight and struggling to keep up with demand as nations worldwide move on from COVID-related economic slowdowns.
“Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia,” said Andrew Gross, AAA spokesperson. “And if they choose to withhold their oil from the global market, such a move would eventually be reflected in higher gas prices for American drivers.”
Defending whose freedom? https://t.co/scRMZJZohb
— Catturd ™ (@catturd2) February 22, 2022