The national average for gas prices hit under $4 per gallon on Thursday for the first time since March. According to the American Automobile Association, the average cost for regular gas in the U.S. now sits at $3.99 per gallon.
The highest national average reached over $5 per gallon in June in the aftermath of Russia’s invasion of Ukraine. Prices have been going down as of late, with fewer drivers filling up their tanks and the White House taking more action to respond to Putin and Russia.
White House Press Secretary Karine Jean Pierre confirmed that President Biden is putting out 1 billion barrels of oil daily from the U.S. Strategic Petroleum Reserve.
With sky-high inflation and a threat of a potential recession, gas prices decreasing is a welcome sight for consumers. This deflation may also be a welcome sight for President Biden and the Democratic Party as the November Midterm elections are approaching.