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Tags: biden | energy | gas prices | inflation | granholm

Biden Administration Predicts Gas Prices to Stay Above $4

BP gas station sigh.

 (Nicholas Kamm/AFP via Getty Images)

By    |   Thursday, 02 June 2022 08:53 PM EDT

During a Thursday press conference in Tampa, Florida, Energy Secretary Jennifer Granholm said that gas prices are projected to stay more than $4 per gallon for the foreseeable future.

"The Department of Energy has an Energy Information Administration, which is an objective entity that does analysis projecting the prices of gasoline," Granholm said.

"They say that things might stabilize by the end of this year but that the price of gas is likely to remain above $4 per gallon."

Commerce Secretary Gina Raimondo was also questioned by reporters regarding the high prices.

"This is the biggest issue that we face now," Raimondo said of soaring prices. "The economy is so strong, the labor market is good, companies are growing, but inflation is a reality, and people are struggling with it."

"No one has a crystal ball," she added.

The news from the Biden administration officials comes as gas prices hit a national average of $4.715 per gallon on June 2, according to data compiled by AAA.

The West Coast experienced the highest average prices, with California leading the way at an average of $6.213 per gallon. Washington, Oregon, Nevada and Arizona were farther behind but still more than $5 per gallon.

Meanwhile, Illinois and Indiana experienced higher-than-normal average prices for being in the Midwest. The two states were at or nearing $5 per gallon, with bordering Ohio, Wisconsin, Michigan,and Kentucky closer to $4.5 per gallon.

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During a Thursday press conference in Tampa, Florida, Energy Secretary Jennifer Granholm said that gas prices are projected to stay more than $4 per gallon for the foreseeable future.
biden, energy, gas prices, inflation, granholm
236
2022-53-02
Thursday, 02 June 2022 08:53 PM
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