Will Biden make a difference?
Biden is traveling to Texas Tuesday (March 8). His welcome? The highest gas prices in recent history.
Before leaving for Fort Worth, Biden will be announcing a ban on Russian energy that will undoubtedly put further pressure on gas prices.
Gas prices were last at these levels in 2008. But, natural gas that’s reaching $4 a gallon is the highest it has ever been, according to a report by the American Automobile Association. GasBuddy data places the previous record at $4.103 — a figure last reached in 2008.
The average per-gallon gas price in Texas is $3.855, 7% lower than the national average of $4.173.
When Biden makes his way to Fort Worth later on Tuesday, the city’s average gas price per gallon will be $3.59, according to Monday’s figures. These prices are eerily similar to the last record-breaking amount the city has experienced. In July of 2008, the market collapse resulted in gas prices in Fort Worth shooting up to $3.985.
In the past two weeks since Russian President Vladimir Putin has ordered Russian forces to invade Ukraine, President Joe Biden has been facing growing pressure from both parties to ban Russian oil and ramp up U.S. production.
But these calls became louder on Monday (March 7), when Ukrainian President Vlodomyr Zelenskyy called from the U.S. and the nations in the European Union to boycott Russian oil.
Tuesday’s announcement of the ban on Russian oil has long been anticipated, despite White House correspondence remaining coy about the move, saying it was “imminent,” while White House Press Secretary Jen Psaki highlighted that “no decision had been reached.”
Reports have also revealed Biden was in discussions with European allies and partners on implementing the ban alongside European countries but was working on mitigating the ban’s effects, given Russian oil makes up a third of their supply.
The U.S. only gets 10% of its oil from Russia.
