Biden wants to let people buy blended gasoline to lower prices. There’s just one big problem

It's one of the main drivers of U.S. inflation reaching a 40-year high, and among the factors most likely to hurt Democrats’ electoral chances in the November midterms.

It’s high gasoline prices, and President Joe Biden is starting to get creative in trying to lower them. 

U.S. gas prices currently average $4.27 per gallon, a sharp decline after a mid-March high that caused drivers to put in fewer miles on the road, sending demand for gas plummeting. But the national average is still well over $1 more per gallon relative to a year ago, and the current decline by no means indicates that prices won’t rise again. 

As summer nears, and demand for gas inevitably grows, a limited gas supply could lead to prices exceeding $5. One U.S. diplomat even warned that an inability to import more gas could cause prices to rise as high as $6 this year, something that has already happened in some parts of the country.