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Opinion

Biden Celebrates Americans Saving $25 a Month As Gas Prices Dip – It Doesn’t Go As Planned

With his poll numbers languishing in the high 30s, President Joe Biden needs every win he can get. And on Monday, he tried to highlight the dip in gas prices that has taken place over more than 30 days. “Gas prices have…

Bradley Cortright·Jul 18, 2022·2 min read

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With his poll numbers languishing in the high 30s, President Joe Biden needs every win he can get.

And on Monday, he tried to highlight the dip in Gas Prices that has taken place over more than 30 days.

“Gas Prices have been dropping for 34 days straight, about 50 cents a gallon. That saves the average driver about $25 a month,” Biden said in a tweet.

He added, “I know those extra dollars and cents mean something. It’s breathing room. And we’re not done working to get prices even lower.”

While the tweet was clearly meant to deliver some good news, it did not go as planned.

Check out some of the reactions below:

https://twitter.com/TommyPigott/status/1549110799846838273

https://twitter.com/YossiGestetner/status/1549110002702483456

https://twitter.com/ScottJenningsKY/status/1549108262359994368

https://twitter.com/thejcoop/status/1549107839234449408

Saving $25 a month for the whole year would add up to $300 — which isn’t nothing.

But according to Moody’s Analytics senior economist Ryan Sweet, inflation in June

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Biden Celebrates Americans Saving $25 a Month As Gas Prices Dip – It Doesn’t Go As Planned — IJR

Americans $493 extra on average. If inflation cost Americans around the same amount every month of the year, they would be paying roughly $6,000 extra per year.

And while Gas Prices have seen a decrease over the past month, The Washington Post reports that the relief could be short-lived and that Gas Prices could surge again as soon as October.

It’s understandable that the Biden White House wants to celebrate what it sees as wins. But just like when people go shopping and spend $200 but claim they “saved” money by finding sales, the idea that Americans are saving money at the gas pump after prices hit record highs this year probably won’t be received the way the White House hoped it would be with this tweet.