Officials claim Biden has worked tirelessly to combat rising prices caused by invasion of Ukraine
The White House denied on Monday that it was deploying a double standard when it comes to gasoline prices.
Jared Bernstein, a senior economic adviser, was asked during the White House press conference whether it was fair for administration officials to take credit for decreasing gasoline prices after spending months blaming Russia for their rise.
“I think there is no ‘both ways’ thinking here at all,” said Bernstein. “I very much disagree with that framing.”
“It’s one of the fastest declines in retail gas prices in a decade,” said Bernstein.
Bernstein said the White House and President Biden were working “tirelessly” to address rising inflation, especially when it came to the gasoline market.
“He put his head down and got to work, and got us to work, to do everything we could to achieve that goal,” said Bernstein.
The White House noted that gasoline prices had dropped nearly 50 cents per gallon over the last thirty days. Officials say the drop is the result of Biden’s decision to tap the Strategic Petroleum Reserve and engage U.S. allies to pump more oil.
“It’s one of the fastest declines in retail gas prices in a decade,” said Bernstein.
Earlier this year, Biden blamed the rise in gasoline prices on Russian President Vladimir Putin’s decision to invade Ukraine. Administration officials have long argued that the invasion scattered global energy markets.
Biden’s defense, however, ignores the fact that gasoline prices were already rising more than a dollar between February 2021 and 2022.
The jump was the highest 12-month spike since President Ronald Reagan’s first term more than 40 years ago.