President Joe Biden claimed in a video Tuesday that, under his watch, gas expenses are down to less than $4 per gallon.
“We now have 40,000 gas stations in the United States where the price of gas is $3.99 or less,” Biden stated in the video.
Biden attributed the lower prices to a report which allegedly stated pulling oil from the strategic reserves played a “big part” in decreasing the cost at the pump. (RELATED: REPORT: Oil That Biden Released From US Strategic Reserves Ended Up In China)
The president also claimed to be pushing oil companies to produce more oil in the U.S.
“We’re working with the oil and gas industry to get production up and prices down, even as we stay focused on transitioning to a clean energy economy,” he added.
A new report says my Administration’s actions have played a large part in making gas prices lower. And now those prices are coming down fast. pic.twitter.com/KxJzVLwfR5
— President Biden (@POTUS) July 26, 2022
Despite supposedly lowering costs, Biden’s listed price of $3.99 per gallon is a higher fee than every other sitting president. Former President Barack Obama had a record price of $3.68, according to Forbes. Biden’s price is also $1.43 per gallon higher than when former President Donald Trump left office at $2.25 per gallon, according to the outlet.
Biden’s price also does not reflect the national average, which is $4.33 per gallon, with states like California paying $5.71 per gallon, according to AAA. The outlet did assess, however, that the gas average is approximately $0.30 cheaper than it was in June.
“I’ll continue to do everything I can to bring down gas prices,” Biden concluded.