SHOCK: Gas Prices Up 50-Cents Since Biden Tapped Oil Reserves

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At a glance

  • President Joe Biden’s record-level sales of oil from the U.S. Strategic Petroleum Reserve (SPR), intended to lower consumer gasoline prices, so far have had the opposite effect.
  • That’s according to a Houston Daily analysis of SPR sales and gasoline prices.
  • Since January, Biden has sold 177 million barrels of oil, intending to create more gasoline supply. But prices have actually risen by $0.50 per gallon over the period.
  • The average gas price in Jan. 2022 was $3.28 per gallon. At the end of Sept. 2022 it was $3.78 per gallon.

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