There are a lot of different narratives floating around when it comes to the prices of gas in the United States.
For the most part, Democrats have argued that gas prices are not the fault of the president or federal government spending, but rather the war in Ukraine and “price gouging.”
Republicans, meanwhile, have pointed the finger at Biden’s policies that increased inflation levels, along with largely shutting down various pro-US energy policies.
The timeline of when high gas prices started doesn’t support the argument that Putin’s war in Ukraine triggered higher gas prices. Likewise, the “price gouging” argument doesn’t hold water, due to the factors that determine gas prices.
Nevertheless, Democrats in the House of Representatives have passed legislation to combat price gouging, according to ABC News.
The Consumer Fuel Price Gouging Prevention Act
This anti-price gouging bill passed by House Democrats would grant Biden the power to bar gas companies from raising their rates to amounts that are deemed “unconscionably excessive.”
Additionally, the Consumer Fuel Price Gouging Prevention Act would give the Federal Trade Commission leeway to probe and penalize examples that it deems as price gouging.
Only a handful of Democrats in the House sided with the GOP in opposing this bill. This legislation comes notwithstanding congressional testimony from oil executives denying claims of unfair price gouging.
Or…. You could open up domestic supply and fix the issue in 30 days
— Work2Weekend (@work2weekend) May 20, 2022
Republicans have pushed back against the legislation, stating that writing off high gas prices as the result of price gouging is not accurate.
The GOP has explained repeatedly that Biden’s spending is what’s causing problems, along with his policies that oppose pipelines, oil and gas leases, and other similar energy programs.
The Underlying Culprit of High Gas Prices
As long as energy is harder to come upon, the prices of gas will be more expensive. This is one of the most basic rules of supply and demand.
This is why Republicans have been calling for the Biden administration to release its blocks against oil and gas leases, Keystone XL pipeline, and other similar initiatives.
This would significantly allow for energy to be produced domestically and at a lower cost. Once this happens, gas prices will be able to decrease.
Gas stations are adjusting gas pumps for $10 gas prices.
— Step One Survival (@StepOneSurvival) May 19, 2022
Last January, when former President Trump left the Oval Office, the average gas price stood at $2.41 per gallon. Now, today, multiple gas stations in America are preparing for gas prices to get as costly as $10.00 per gallon.
Due to the even divide in the Senate, it remains to be seen whether or not the chamber will pass the Consumer Fuel Price Gouging Prevention Act.
What do you think about House Democrats passing legislation that is geared towards opposing price gouging? Do you believe price gouging is the cause of high gas prices today? Please let us know in the comments area.
