(DCWatchdog.com) – If the last time you went to the pump at your local gas station, you felt like it had been many years since you’d paid as much as you just did to fill up your tank, you’re not hallucinating. It’s true. Because the price of oil worldwide is reaching record high prices, so too is the price of gas you are paying in your neighborhood.
It’s a safe bet that the last time you paid this much for gasoline Barack Obama was the President of the United States. And, the high prices are coming at a time when many Americans are struggling with inflation that is cutting into their paychecks to a degree that most Americans haven’t experienced in decades.
Western Canadian Select (Canada’s heavy oil benchmark) is now trading at $82CAD/bbl…a 7 year high! What has the S&P/TSX Capped Energy Index done over that time? Down 42%. Time for a re-rating??? pic.twitter.com/rF8yASrfW2
— Eric Nuttall (@ericnuttall) October 4, 2021
To make matters worse, crude oil just popped by another 3% per barrel to $78.17 on the New York Mercantile Exchange. That’s the highest it’s been since 2014 during the second term of President Barack Obama.
Is there a reason American consumers have had to pay the highest amount for gasoline under Obama and President Joe Biden, two Democrats? It’s a safe bet voters will be thinking about that during the next two election cycles in 2022 and 2024.
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