The Sconi

Even after a week where gas costs across the country slightly dipped, prices remain at record levels, forcing even President Joe Biden to admit what critics of the situation like Washington Times columnist Tim Young argues has become obvious.

"Here's Biden admitting that gas prices have nothing to do with Putin and everything to do with his plan to get rid of fossil fuels," Young tweeted a press conference in which the president said: “When it comes to the gas prices, we're going through an incredible transition that is taking place that God-willing when it's over we'll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.”  

As the current demand for crude oil continues to slide, pump prices in Wisconsin averaged $4.52 per gallon, or $1.54 higher than they were just a year ago, according to Gasoline Misery Index.com, which tracks how much more (or less) the average American consumer will have to spend on gasoline on an annualized basis. The average is compiled using gas price data from the American Automobile Association (AAA), average fuel efficiency (mpg) data from the U.S. Department of Energy and average miles driven from MetroMile.com.

The index further tracks the average price of a gallon of regular gasoline and adjusts using the average miles traveled by the average miles per gallon of American cars.

On the whole, Wisconsin motorists are expected to pay in the neighborhood of $925 more on gasoline than they did at this time last year. Earlier this month, AAA reported that based on the latest data from the Energy Information Administration (EIA), total domestic gas stocks decreased by 2.5 million bbl. while gas demand increased from 8.92 million b/d to 9.41 million b/d ahead of the July 4, holiday.

AAA researchers add that while such supply/demand trends would ordinarily put upward pressure on pump prices, falling oil prices have contributed to lower pump prices. According to the U.S. Energy Information Administration (EIA), in January 2021 the national average price per gallon of gasoline was $2.33, more than two times less than Friday's national average price of $4.72.

Indeed, the change has struck some as so staggering that gasolinemiseryindex.com has taken to referring to it as the Biden Misery Index, noting that Americans are now spending an average of $1,255 more per year on gasoline since the president entered office in January.

Roughly a month ago, the President took to Twitter to call for the suspension of the federal gas tax on a national level for the next three months, amounting to a savings of about 18 cents per gallon for cash-strapped motorists. 

 And not even that is a given, as CNN reports the White House’s proposal does not appear to have much Congressional support, including from among Democrats, some of whom have already publicly blasted the measure as "shortsighted," "inefficient" and not guaranteed to work.