Yes, Gas Was Cheaper and Mortgage Rates Were Lower in 2020

Aviral online post compares interest rates and gas prices before and after Biden’s presidency. “Remember how on November 5th, 2020 gas was $1.80 a gallon and interest rates were 2.75%,” the post reads. Another reads: “Friendly PSA: Gas Was $2.30 A Gallon And Interest Rates Were 2.75% Back On January 20th, 2021.”

The posts’ broad claims are correct: Interest rates and gas prices were lower before Biden’s presidency. However, the numbers cited in the post are not precise and lack some context.