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Gas prices reach new record high as GOP senators blame Biden for holding production back
David McCormick blames Joe Biden for high gas prices
Pennsylvania Senate candidate David McCormick blames President Biden for high gas prices, notes his state’s natural gas reserves and Biden’s regulations holding Pennsylvania back from drilling.
Average gas prices in the U.S. reached a new record high Thursday, according to AAA's gas price calculator, after Republican senators slammed the Biden administration for a "de facto ban on new drilling."
The national average cost of a regular gallon of gasoline hit $4.589 early Thursday morning. This price topped Wednesday's previous record of $4.567, which had beat Tuesday's record of $4.523, which in turn had beat Monday's record of $4.470.
The price comes as the European Union edges toward oil sanctions on Russia amid the Kremlin's invasion of Ukraine. It also comes amid record-high inflation, with the consumer price index reaching 8.3% in April, hovering near March's 40-year high. The price hike also follows the Department of the Interior's cancellation of an oil and gas lease sale for over 1 million acres in Alaska's Cook Inlet last week, which DOI attributed to a "lack of industry interest." DOI also canceled two Gulf of Mexico leases.