The COVID-19 pandemic and Russia’s invasion of Ukraine had a large impact on gas prices. Gasoline prices have risen around the world, undermining a claim that price increases are solely because of President Joe Biden and Democratic policies.
, passed Aug. 16, a wide-ranging measure that had a huge climate change component. That includes a major focus on investments in clean energy technologies, natural carbon reduction practices, and energy-efficient upgrades to businesses and homes, along with heavy investments in technologies to produce and use oil, gas, and coal in the cleanest way possible.
"The most recent spike in prices over the summer was due to a combination of increased demand as the U.S. moved into a summer of travel with greatly reduced pandemic-related concerns and reduced supply due to issues with refinery capacity, all superimposed on a background of high oil and gas prices brought about by the war in Ukraine," Daigle told PolitiFact Wisconsin in an email.
So, as we noted previously, policy can play a role in gas prices — but it hardly is the only driver, or the sole one as Johnson suggests.Experts say things such as halting subsidies for oil companies, ending fossil fuel company drilling on public lands and ending the Keystone XL pipeline may have had a small impact on gasoline prices, but the coronavirus pandemic on the supply and demand for oil, and Russia’s invasion of Ukraine and the subsequent sanctions had a much bigger impact.
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