Posted: 4:06 pm Saturday, May 26th, 2018
By Jamie Dupree
While the Trump Administration has hailed economic and job gains over the past year and a half, the price of gasoline has jumped by over 50 cents on average in the last six months, adding to the cost of everything from a daily commute, to a summer vacation, and the amount of money companies pay to ship their products around the country.
And that increase is starting to be used by Democrats on Capitol Hill to take aim at the White House.
“Gas prices have risen more than 25% since Trump took office,” said Sen. Ron Wyden (D-OR).
“Overall world crude oil prices have increased over 75 percent in the past year,” said Sen. Ed Markey (D-MA), as Democrats wrote President Donald Trump a letter earlier this week, asking him to do something about the rising cost of gasoline.
Americans are paying the price at the pump for Trump’s chaotic approach to foreign policy.
He hasn’t pressured Gulf leaders to lift their cap on oil output, or pursued diplomatic solutions in Yemen and Syria.
— Senator Bob Menendez (@SenatorMenendez) May 23, 2018
Gas prices over $3 per gallon aren’t unusual for the Washington, D.C. area – just the ohter day, this reporter filled up on the way to work, and had the pump shut off before the tank was full, when the total hit the $50 credit card limit at that station for a single transaction.
Figures released in recent weeks by the Trump Administration clearly show the increase, with gas prices up on average by over 52 cents a gallon from the same time a year ago, at an average of $2.92 per gallon.
The $2.92 per gallon is the highest average price at the pump on Memorial Day in four years – in 2014, gas was at an average of $3.67 per gallon, as Republicans blamed the energy policies of the Obama Administration, arguing for more oil exploration in the United States.
Gas prices generally trended down the last few years, leading President Trump to proclaim where they stood on July Fourth of last year.
Gas prices are the lowest in the U.S. in over ten years! I would like to see them go even lower.
— Donald J. Trump (@realDonaldTrump) July 4, 2017
But since that tweet on July Fourth of last year, the price of gasoline has only gone up, and federal energy experts expect even more in the months ahead.
“Relatively higher crude oil spot prices, higher gasoline demand, and falling gasoline inventories are all factors contributing to higher gasoline prices,” the Energy Information Administration reported last week.
The EIA predicted an average of $2.90 per gallon for gasoline this summer.