President Joe Biden said that he would do everything to reduce the price of gasoline in the United States. Biden stated that Americans’ ability to fill up their gas tanks and family budgets should not be affected if a dictator like Russian President Vladimir Putin declares War or commits Genocide.
The president spoke out against inflation. In March, Russia’s war with Ukraine led to rapid price rises for oil and natural gases. This drove inflation to its highest point in four decades. This erased most Americans’ gains from rising wages.
Biden said that Putin’s invasion of Ukraine has pushed up food prices and gas prices all over the world. ”
Biden referred to Tuesday’s inflation numbers, and stated that “increased prices” in March were caused by Putin’s gasoline price rise. ”
According to Tuesday’s Labor Department report the consumer price index rose 8.5% compared to a year ago. This is the largest increase in inflation since January 1982, when it reached 8.4 span> The consumer price index, which measures prices for a range of goods such as gasoline, groceries, and rents, rose 1.2% in January.
Biden last month announced that all Russian oil, natural gas and energy imports into the United States would be prohibited. This ban was implemented in response to Russian President Vladimir Putin’s war against Ukraine. He warned, however, that the ban could have devastating consequences for American families.
About a third of Europe’s oil imports come from Russia. But, only 10% of all U.S. oil imports come from Russia.
Biden stated that: “Your family budget, your ability to fill you tank, and all that should not depend upon whether a dictator declares War or commits Genocide or is a half-a world away to deal with the Putin price rise. ”
Biden expressed concern about E15 authorization and stated that it was not going to solve all our problems.
Biden stated, “It’s helping some people, so [to whatever help] even though it’s an extra buck or two when they refill up, but make the difference in people’s lives.” ”
Biden stated that his administration had “invested more $100 million in biofuel infrastructure to the future.” ”
Biden stated that things like blender pumps and land pumps can handle higher amounts of bioethanol or diesel fuel. ”
Biden stated, “Officially there’s more that can be done to lower prices for American families.” ”
The president spoke out about the rising prices of household goods and stated that his administration was working to reduce the price of food. ”
Rising inflation is reducing wage gains that American workers have enjoyed in recent months. The 1.2% inflation increase eroded the 0.4% annual wage gain in March, resulting in real hourly earnings falling 0.8% compared to March.