Gas prices remain high across the country despite slower demand and weaker inflation, an issue that could become critical for President Joe Biden ahead of the 2024 election, analysts have told Newsweek.
When Biden took office in January 2021, gas prices were an average of $2.4 per gallon across the country, according to historical data from the U.S. Energy Information Administration (EIA). By December of the same year, they had risen to over $3 per gallon. In June 2022, they peaked at an average of $5.06 per gallon, the highest on record, after which they started to drop below $4.
This year, gas prices have remained consistently below the peak of 2022, but still higher than they were when Biden took office two and a half years ago.
n the first week of January, the average gas price in the U.S. was $3.2 per gallon. By the end of the month, it had risen to $3.4. In the following months, prices remained steadily over $3 per gallon, while in August they surged to nearly $3.8 per gallon, according to the EIA.
As of August 30, the average price of regular gas was $3.827, according to AAA—just slightly lower than the $3.844 average reported a year before.
Read more at Newsweek.com
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