President Joe Biden acknowledged gas price averages are ticking up, attributing the blame to OPEC+’s decision to cut oil production by 2 million barrels a day.
Biden warned if Republicans gain control of Congress after next month’s midterm elections, “historic victories we just won,” including his $430 billion healthcare and climate spending package known as the Inflation Reduction Act, will be “taken away.”
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“Every kitchen table cost is going to go up, not down,” he said Friday. “I realize costs are going up on food, and I was able to bring gasoline down well over $1.60, but it’s inching up because of what the Russians and the Saudis just did. I’m not finished with that yet.”
Biden made the comments during a speech billed as remarks “on building the economy from the bottom up and middle out,” delivered at Volvo Group Powertrain Operations in Hagerstown, Maryland.
“They love to attack the Democrats for what we’ve done,” he said of Republicans. “I doubt any of you can tell me what the Republican reelection plan is this time out. What’s their platform if they take control of Congress?”
Saudi-led OPEC’s 13 member countries and Russia-allied, nonproducer partners, known as OPEC+, met at the group’s headquarters in Vienna, Austria, this week to update the cartel’s oil production quota policy.
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National gas price averages are lower than June’s high of $5 per gallon but have increased to $3.89 as of Friday, according to AAA.
