Karine Jean-Pierre, the press secretary for the White House, bragged about the drop in petrol prices on Twitter on Thursday while criticizing oil refiners for their earnings.
In a video posted to the official White House Twitter account, Jean-Pierre discusses how petrol prices have recently decreased around the country.
In the video, Jean Pierre noted that petrol prices have been falling nationwide and have decreased by more than 50 cents per gallon during the previous 30 days.
Jean-Pierre screamed, “This is so exciting, guys. I’m in the graph!” as he displayed a graph in the video.
Press Secretary Karine Jean-Pierre explains what you need to know about the decline in gas prices over the past month. pic.twitter.com/QpwaQECsH3
— The White House (@WhiteHouse) July 22, 2022
“In more than 20,000 gas stations just across the country, as you’ll see in this graph, you will see gas prices less than $4. At current prices, the average American driver will spend about $25 per month less on gasoline than they would have if prices had stayed at their June peak. But gas prices aren’t coming down at the same pace as declining oil prices,” Jean-Pierre explained.
She continued to explain, “So while oil prices have decreased by about 20% since their June peak, as I was just talking about earlier, prices at the pump have only fallen about 10% over the same period. So that means profits are up way above average. Refiners’ profit margins per gallon of gas averaged about 90 cents last week, roughly double what’s typical for this time of the year.”
As of Thursday, the average gas price throughout the country was about $4.40. The cost is still more than a $1 more than prices at this time last year and two dollars higher than when Biden first entered office, despite the fact that it is roughly 20 cents lower than the average price for the previous week.
Members of the White House are attempting to claim credit for this decline, while others have pointed out that Biden earlier cited a “Putin Price Hike.” and attributed record-high gas prices on Russia’s conflict with Ukraine.
On Monday, reporters even questioned Biden’s senior economic advisor Jared Bernstein about the double standards he maintains for himself.
Even if gas prices have decreased slightly, the Russian conflict in Ukraine is still going on, and inflation rates in June reached a record high of 9.1 percent.
