Fox Business’ Charles Payne pushed back against Fox News’ Sandra Smith on Thursday over the Biden administration’s policies, including the president’s handling of the economy and student loans.

The duo were discussing President Joe Biden’s economic policies when Smith brought up rising inflation and consumer prices under the current administration.

“If you want to look at gas prices — [the White House] want[s] to strip it out, apparently, in their analysis — but gas prices today, $3.85. Up from a year ago, and look at that, up a lot: a dollar-and-a-half from when the president took office. That’s what people feel.”

“And I think what’s really worrisome about those numbers, is because — that’s what the president wanted to happen,” Payne said. “That’s what makes it so egregious–”

“Well, they would push back on that,” Smith interjected. (RELATED: Breaking Down Karine Jean-Pierre’s Recent Claim About Gas Prices)

“No, they wouldn’t,” Payne shot back. “Listen to every campaign speech that candidate Biden gave. He said ‘I’m going to get rid of the oil industry–'”

“That is true,” Smith conceded.

“–we know supply and demand, the less supply, the higher the price goes up, that’s Economics 101. So [Biden] wanted the prices to go up. He can’t deny that. When he keeps changing the rules on the industry, when he keeps demonizing the fossil fuel industry, that means he wants the prices to go higher!”

Payne then went off on Biden for allegedly using minorities to push forward his political agenda.

“President Biden has been using poor people, black people, Hispanics — he uses historic problems, and then he uses it as a facade or a front, and what does he do with it? He pays off student loans for the richest, wealthiest, most blessed people on the planet! He gets couples making $350,000 a year, child tax credits, are you kidding me? That was supposed to be for the working poor.”

The average per-gallon diesel price has risen by 20 cents over the past month, AAA data from mid-September shows. Diesel prices reached an all-time high in June 2022 when they were nearly $5.82 per gallon. The national average per-gallon price for regular gas has jumped about 5 cents in the past week, AAA data shows.