Bidenomics 101: Gas Prices Soar Again to New High for 2023 Adding to Inflationary Pressures

Aug 7, 2023 | Political News

U.S. gas prices are soaring again, posing another challenge to an inflation problem the Federal Reserve has battled over the past year and President Joe Biden claimed is all under control thanks to the much-touted “Bideonomics.”

The national average gallon of gas traded at $3.89 last week, its highest level since October 2022, according to the latest figures supplied by the AAA.

The pump price shows a variation across the country with some of the steepest jumps in Midwestern states, while in Washington state and California, prices have reached an average of $5 and $5.07 a gallon, the Detroit Free Press reports.