• 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.

Tagged: #Bidenflation