Say Anything » Obama’s Policies Have Added $0.50 To The Price Of Every Gallon Of Gas Pumped In The US

Obama’s Policies Have Added $0.50 To The Price Of Every Gallon Of Gas Pumped In The US
Rob Port • June 6, 2011

So says a congressional Joint Economic committee report:

The Obama administration’s monetary policies have added approximately 56.5 cents to the price of every gallon of gas you pump, according to a report by Republicans on the congressional Joint Economic Committee report.

Estimates suggest that had the dollar maintained the value it had when Obama came into office, gasoline would cost approximately $3.40 per gallon instead of around $4 per gallon in many parts of the country.

“Analysts and pundits often cite, correctly or incorrectly, the turmoil in the Middle East, a strengthening global economy, or speculation as the causes for the run up in crude oil prices,” the report said. “What is rarely discussed as an important factor in the rise of the dollar price of oil is the role played by the dollar itself.”

Keep in mind that the falling price of the dollar doesn’t just make your gas more expensive, but your whole life more expensive.