President Biden responds to reports of major oil companies posting record profits
Twitter fact-checked President Biden’s tweet Sunday morning, giving more context to his claim about low gas prices.
“Currently, the most common rate at gas stations across the country is $3.19 per gallon,” Biden tweeted. “This is progress.”
Below the tweet, Twitter included some explanation of what “usual” gas prices mean. The fact check distinguished between the “most common gas price” – which is $3.19 – and the “average price” – which is $3.80.
President Joe Biden and the White House COVID-19 Response Team will participate in a virtual call with the National Governors Association from the South Court Auditorium of the Eisenhower Executive Office Building of the White House Complex Monday, Dec. 12 (Kent Nishimura/Los Angeles Times via Getty Images / Getty Images)
The most common are the “fashion” gas prices, meaning they are the most common in the US, but are not necessarily wrong.
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After all, politicians have an interest in naming the most common gas price, as this tends to be below the national average and reduces the higher price.
The issue has become a major concern for Biden and Democrats in general going into this week’s midterm elections.
Biden has had a particularly thorny relationship with oil companies since taking office. Late last month, the President slammed the big oil companies’ recent gains, urging them to invest profits in boosting US production and lowering consumer prices or face potential restrictions.
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Biden, who argued that oil companies’ recent gains were a “windfall of war” in Ukraine, said he thinks they have a “responsibility to act in the interests of their consumers, their community and their country.” He urged them to use some of the profits to increase their US manufacturing and refining capacity and lower the gas prices Americans see at the pump.
When Biden took office in January 2021, the average gas price was $2.37 per gallon, according to the US Energy Information Administration.
Aislinn Murphy of FOX Business contributed to this report.