18 cents a gallon? Oops, do.Desperate gas tax gamble shows Biden’s ineptitude on energy

Have you recently played Gas Tank Gamble, America’s exciting new game?

You know: Drive past your local station hoping to get somewhere slightly less expensive.

I won the jackpot this weekend, forgoing the $4.799 a gallon at the local gas station and getting into Costco for half a gallon, saving 20 cents a gallon.

I kept driving and felt like a millionaire. But then I did the math: Closer to home, my gas bill would be $3 more.

If President Joe Biden convinces Congress Suspend federal gasoline tax For three months, he is expected to announce the idea on Wednesday afternoon.

In June, President Joe Biden made the motion before boarding Air Force One at Kirtland Air Force Base in Albuquerque, New Mexico. (AP Photo/Evan Vucci)

Federal taxes increase by 18.4 cents a gallon for unleaded gasoline and 24.4 cents for diesel. (In Texas, state tax increases by 20 cents per gallon). The Associated Press calculates that the national average is about $5 a gallon, People will save about 3.6%.

Let’s be clear about one thing: every bit of savings helps, especially for poorer households. Rapid inflation is crushing people, and there is often nothing they can do to reduce fuel consumption.Economists, however, say such modest cuts may not even be noticed ——Especially against the rapid rise in prices since Biden took office.

The move was an apparent attempt to curb American anger and pessimism, with Biden reaching Trump levels and Democrats panicking about a huge midterm loss in November.

However, if Congress passes his plan, the taxation will resume at the end of September — a sudden surge in taxes as voting begins in some states. clever!

But Biden has to try something because the “blame everyone” strategy doesn’t work. The White House is still trotting the pathetic “Putin price hike” frame, as if people hadn’t noticed the higher prices before the invasion of Ukraine.He’s attacking oil companies and asking them to cut profits – but he doesn’t admit he’s just inviting them to take short-term profits long-term production cuts.

next month, he’s going Saudi Arabia and begged it to increase production. If the leader of the country he denounced as “untouchable” asks: Why are we doing this?

Energy prices are the basis for all inflation due to transportation costs.And the effects are cumulative; farmers warn possible food shortage If diesel prices continue to rise. It’s one thing when people are stressed about the cost of feeding their families; it’s another story if they can’t even get groceries.

Like most economies, natural gas prices are complex.no it is It’s not all Biden’s faultBut people didn’t buy his blame game, and for many voters, weak steps like suspending the fuel tax just underscored that it was time to find someone with a better answer.

In the meantime, keep your Costco card handy.

Editor’s Note: A version of this column originally appeared in our opinion newsletter, Worth Discussion. It’s published every Wednesday with a fresh take on the news and roundups of our best editorials, op-eds and other opinion content. register here.

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