Several speakers focused on the sharp rise in gas and electricity prices under President Biden. We scrutinized their statements.
The rising price of energy was a major theme of the first day of the Republican National Convention, with several speakers blaming President Biden’s policies for the spike in gasoline and electricity prices since 2021.
Here’s a look at some of their claims.
What was said about gas prices
“The day Joe and Kamala walked into office, gas was cheaper.”
— Senator Marsha Blackburn of Tennessee
“Gas is up 48 percent”
— Senator Katie Britt of Alabama.
This needs context. The average price of gasoline has risen roughly 48 percent since Mr. Biden took office in early 2021. But experts say that global market forces affecting the price of oil typically have a much bigger influence over U.S. gasoline costs than any president.
The past few years have been a case in point: Global oil prices crashed in 2020 when the coronavirus pandemic shut down economic activity around the world. Prices then surged in 2021 when economies rebounded, but crude production was slower to recover. And oil prices spiked to record highs in 2022 when Russia invaded Ukraine, which caused gasoline prices in the United States to reach $5 per gallon at points.
Since then, gas prices have declined, to around $3.50 per gallon today.
President Trump has promised to encourage more domestic drilling to bring down oil prices. But more drilling doesn’t always translate into cheaper gasoline: The United States is producing significantly more crude oil today under President Biden than it did under the Trump administration, yet prices remain higher than they were four years ago. Other factors, like fuel demand in China and output from Saudi Arabia, also matter.
What was said about electricity
“Biden and Harris outsourced our energy supply, driving electricity prices up over 29 percent.”
— Senator Marsha Blackburn of Tennessee