Gas prices have fallen slightly from their all time highs back in June. As such, the corrupt Biden regime wants credit for it, after claiming they don’t control gas prices as prices were spiking. The media, including CNN want to give all the credit to Biden too. They went so far as to call the slight drop in gas prices a $100 “tax break”. Yes, they are really this arrogant or dumb, or both. It’s fun to laugh at CNN, especially with all the hacks getting fired.
How about calculating the price of gas since 1/20/21 to today and see how much of a “tax hike” you still have. Prices are still over two dollars more than when the corrupt Biden regime was installed.
Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise.
The steady drop in gas prices over the last few months has turned into an unexpected form of economic stimulus, coming at a time when the Federal Reserve is trying to cool the economy and battle rising prices with higher interest rates.
Since hitting a record of $5.02 a gallon on June 14, the national average price for regular gas is down $1.10, or 22%, to $3.92, according to AAA. That average has now fallen for 67 consecutive days.
Since the typical US household uses about 90 gallons of gas a month, the $1.10 drop in prices equals a savings of $98.82.
The impact of the extra cash could be a substantial boost to an economy that is showing signs of consumers pulling back on purchasing nonessential items, such as clothing, electronics and household goods.
Major retailers including Walmart, Target (TGT), Best Buy (BBY) and Gap (GPS) are cutting prices on those items after consumers shifted to more spending on food and gas. And that pullback in consumer spending is one reason why many observers are now forecasting a recession, since consumer spending accounts for nearly three-quarters of US economic activity.
But lower gas prices could help revive spending on those nonessentials.