Gas prices have jumped to more than $4 a gallon as energy markets are rattled by Russia’s war in Ukraine, which could get worse if Congress passes bipartisan calls to ban Russian oil.
Fuel price analysis platform GasBuddy said Monday that the national average hit a 14-year high of $4.104 a gallon, surpassing the previous all-time high of $4.103 in 2008.
The latest price hike is clearly directly related to the Russian invasion and retaliatory international sanctions against Moscow.
These actions received broad bipartisan support amid widespread revulsion for Russian President Vladimir Putin.
Vladimir Vladimirovich PutinKristen Stewart Pays Tribute to Ukraine at Independent Film Awards Russia strikes at non-military targets.
The question is how much patience American consumers will have with higher gas station prices, which are partly the result of what many in the political class see as a fair response to Russian aggression.
Prices were high even before the latest crisis and created political problems for President Biden.
Joe Biden, an armed attacker arrested at Joint Base Andrews after Harris returns. Capitol Police Declares State of Emergency for Harris Trucker Convoy in Selma: ‘We Won’t Let Failure Stop Us’ MORE and the White House, which has been hit by inflation complaints.
At least some Democrats believe that Biden will continue to accumulate political blows from historically high prices.
“The short answer is that the higher gas prices are and the longer they stay that way, it will hurt the president and the Democrats over time,” said Ivan Zapien, a lobbyist and former Democratic National Committee staffer. “At least part of the American electorate is willing to make some of the sacrifices that are being asked for, but in the long run it’s usually a pretty dramatic ordeal that ends up hurting whoever demands the sacrifices.”
The White House said it would do everything possible to alleviate the suffering of American consumers. But Biden publicly acknowledged that the US economy and American households would suffer losses as a result of the war and the economic noose that the international community sought to impose on Moscow.
“The President’s message is that he is going to do everything in our power, everything in his power to reduce the impact on the American people, including the price of gas,” White House Press Secretary Jen Psaki said.
Jen PsakiHouse working on bill to ban Russian oil imports Nikki Haley: ‘I don’t support no-fly zone’ over Ukraine ‘right now’ Manchin urges keeping no-fly zone as option to help Ukraine MORE said on Monday. She also pointedly added that it was Putin who “created instability in the markets.”
Biden entered the Russian-Ukrainian crisis at the most inopportune moment of his presidency, with an approval rating below 40.
But polls show that a majority of Americans still approve of the way he is waging war: 52 percent of Americans polled in the latest NPR-PBS NewsHour-Marist national poll said they approved of his response, and 83 percent supported the economic sanctions imposed on Russia. .
69% of Americans polled also said they still support economic sanctions against Russia, even if they lead to higher US energy prices.
Republicans have attacked energy prices and Biden’s energy policy even before the recent price spike, arguing that Biden’s policies are hurting US production.
“A return to affordable gasoline and reliable energy requires a change in who controls the US Senate and House of Representatives. With every day of high gas prices, this is becoming more apparent to voters,” GOPac Chairman David Avella told The Hill in an email.
A ban on Russian oil imports would further shock markets, but both parties are calling for the move.
Speaker Nancy Pelosi
Nancy Pelosi-Barr says there is no evidence Trump is “legally responsible” for January 6 attack House of Representatives working on bill to ban Russian oil imports said last week that she was “all for” the ban. In the Senate, Senator Joe Manchin
Joe ManchinHouse works on bill to ban Russian oil imports Harris in Selma: ‘We won’t let failure stop us’ US officials and lawmakers discuss no-fly zone over Ukraine MORE (DW.Va.) and Lisa Murkowski
Lisa Ann Murkowski House working on bill to ban Russian oil imports Harris says Ketanji Brown Jackson “stands on the shoulders of giants” Black Chambers backs Jackson in MORE (Republic of Alaska) Supreme Court and others have introduced a bill to ban Russian oil imports.
In a statement Monday, House Ways and Means Committee Chairman Richard Neal
Richard Edmund Neal Bottom Line Senate Democrats Urge Biden to Get Increased Child Tax Credit in Pelosi Spending Deal: Build Back Better May Need to Be ‘More Restricted’, Renamed to MORE (D-Mass.), Ways and Means Ranking Member House of Representatives Kevin Brady
Republicans Backed by Kevin Patrick Brady McCarthy Contested Texas House Primary Five Takeaways from Texas Primary Republican Representative Won’t Run for Senate, Hopes to Become Ways and Means Chairman: Report MORE (R-Texas), Chairman of the Senate Finance Committee Ron Wyden
Ronald (Ron) Lee WydenCongress weighs WTO legal ways to punish Russia The Hill’s Morning Report – War between Russia and Ukraine enters second deadly week
Michael (Mike) Dean Crapo. The Hill’s Report 12:30: Lost dog follows senator around Capitol Hill. Sanders is urging Democrats to bring a drug price bill to the Senate. a statement that they will make a proposal to ban energy imports.
“While Congress needs to do more, as Congressional leaders with jurisdiction over our country’s trade policy, we are determined to use the tools at our disposal to stop Russia’s shameless and unjust war against Ukraine and hold Belarus accountable for its involvement,” they said. wrote.
Psaki said that the White House is discussing this issue within the company, and a decision has not yet been made.
Secretary of State Anthony Blinken
Anthony BlinkenHouse works on bill to ban Russian oil imports Average gas price is the highest in more than a decade Blinken arrived in Moldova with assurances MORE told CNN he spoke with Biden and other cabinet ministers about Russian oil and that they are talking to European allies o to ban oil imports, “while ensuring that there is an adequate supply of oil on world markets.”
Senior US officials made a rare trip to Venezuela this weekend to negotiate a potential easing of sanctions on that country’s oil exports as the administration considers a ban on Russian oil.
The White House has rejected proposals by the Republican Party that the administration is restricting oil supplies to the United States.
There are currently over 9,000 untapped oil and gas properties in the US, although exploitation of these properties will not immediately cause oil to flow from them. The number of US oil rigs has more than doubled since July 2020, from 172 to 519 last week. However, this number remains well below the 800 rigs registered in 2019.
Europe is heavily dependent on Russian exports of oil and natural gas, and German Chancellor Olaf Scholz said on Monday that Russian oil and gas is “essential” to the European economy.
The US and its allies are still imposing sanctions on Russia in sync, and the White House is touting coordination between Biden and European leaders.
By potentially banning Russian oil, the administration would violate that ban, a move taken by Eric Wieland, undersecretary of state for civil security, democracy and human rights under former President Trump.
Donald Trump Barr says there is no evidence that Trump is “legally responsible” for the January 6 attack on Russia and the Republicans. to report MORE, argued not bad.
“I believe that the leadership of the United States means that at times we are well ahead of our European allies,” Weland said. “I think this is a strong signal that the United States will be ahead and ahead of the European countries here or other countries that may also decide to ban Russian energy until Russia withdraws from Ukraine.”
Bill Snape, senior legal adviser for the Center for Biological Diversity, dismissed the notion that suppressing energy imports from Russia would mean a marked increase in gas station pain for the average American.
“We import less than 5 percent of the oil we import from Russia. In general, the US now exports more oil than it imports,” Snape said in an email to The Hill. “Our electric vehicle industry is growing significantly every day. We should not pay a bloody dictator with oil money to wage an illegal war in Ukraine.”
Snape also said the prospect of an import freeze should not spur more domestic oil exploration, despite numerous Republicans calling for such a response.
“The US is swimming in oil. 40 percent of all world trade is for the delivery of fossil fuels to another destination,” he said. “We need to reduce our overall consumption of oil and gas in the United States, stop trading them, and invest more in clean, renewable energy.”