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No.
Gasoline prices have risen under President Joe Biden, but not by 48% under an apples-to-apples comparison.
The average weekly price was $2.38 per gallon the week of Jan. 18, 2021 — when President Donald Trump left office and Biden was inaugurated.
It was $3.06 the week of Jan. 15, 2024 — 29% higher.
The price was $3.13 the week of July 12, 2021, and $3.50 the week of July 15, 2024 — 12% higher.
U.S. Sen. Katie Britt, R-Ala., claimed July 15, 2024, at the Republican National Convention in Milwaukee that gas prices have increased 48% under Biden.
An RNC spokesperson cited an apples-to-oranges comparison, using AAA figures from January 2021 and July 2024.
Gas prices peak in summer, as demand increases, and are lower in winter.
Presidents have little influence. Gas prices mostly depend on the price of crude oil, set on the global market, as well as worldwide supply and demand.
This fact brief is responsive to conversations such as this one.
Sources
U.S. Energy Information Administration: Weekly U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)
Right Side Broadcasting Network: WATCH: Sen. Katie Britt Speaks at 2024 RNC in Milwaukee, WI – 7/15/2024
CNN: Fact check: Gas prices when Trump left office were much higher than he now claims
AAA: Gas Prices
U.S. Energy Information Administration: Gasoline Explained
Wisconsin Watch: Is gasoline ‘over $7 now’ in California?
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