The White House Is Already Trying To Take Credit For Falling Gas Prices. Here’s Why That’s Malarkey

A Biden administration economic official credited President Joe Biden’s policies for a recent decrease in gas prices despite the fact that the fall in prices is largely due to diminished demand and fears of a global recession, according to a CNBC news clip posted to Twitter.

Jared Bernstein, a member of the White House council of economic advisers, said that the price of gas nationwide is down by more than 30 cents from its peak due to Biden’s efforts to increase the supply of oil in a TV interview Monday. The drop in gas prices is primarily because of diminished demand at the pump and growing fears of a global recession that are causing oil prices to fall.