The average price of gasoline in Iowa has broken a new record today at over $4.26 per gallon, according to data from AAA.
That’s still below the national average of $4.60 for a gallon of gas – and well below the over six dollars per gallon that Californians are currently paying – but gas prices in Iowa have dramatically increased since early May. According to AAA, only two states that neighbor Iowa have higher average gas prices – Illinois and Wisconsin.
Soaring energy prices have been one of the strongest drivers of red hot inflation, which is currently at a 40-year high. That’s because the price of energy not only affects everyday consumers with automobiles or oil-based home heating systems but critical segments of the supply chain. High diesel prices, in particular, have significant ramifications throughout the supply chain as most large trucks, trains, and ocean vessels that move the world’s cargo are powered by diesel.
Skyrocketing gas prices nationally have put renewed pressure on Joe Biden as he contends with inflation, the conflict between Russia and Ukraine, and sagging poll numbers at home.
After Biden won the White House with the backing of environmentalist groups and activists, his administration has sought to cut back on fossil fuel production and use in the U.S. The Biden administration has, for instance, increased oil royalty rates, scaled back oil and gas drilling leases, and increased regulatory scrutiny of drillers.
Responding to public pressure, Biden has taken some steps to alleviate high prices at the pump – including tapping into the U.S.’ strategic petroleum reserves and allowing summer sales of E-15 gasoline, which uses more ethanol than standard gasoline blends – with limited success.
Biden’s not the only Democrat, however, who’s taking fire for high gas prices. Republican officials have sought to pressure Democrats to thread the needle on their rhetoric about combating inflation despite remaining mum on the Biden administration’s anti-energy agenda that’s helping drive inflation in the first place.
“Are [Iowa Democrats] at least willing to acknowledge that Biden’s reckless anti-energy policies are to blame for high gas and diesel prices,” a Republican National Committee spokesman quizzed in a press release. “Or does staying on the good side of Biden and radical activist groups trump the interests of everyday Iowans?”