As gas prices rise across the nation since he left office, former President Donald Trump warned Americans on Tuesday that things are about to get much worse.
Trump was interviewed by Maria Bartiromo of Fox News.
According to the American Automobile Association, the average price of a gallon of regular, unleaded gasoline was $2.879 per gallon on Wednesday, up 14 percent from February.
A year ago, the average price was $2.237, which means gas prices have risen 28.7 percent since March 2020. The price had fallen as low as $2.11 around Election Day, when President Joe Biden was elected to the White House.
During his interview, Trump said the Biden agenda is bad for the economy.
“We were the envy of the world, and then when we got hit by the as I call it the China virus, COVID, it was, it obviously went down along with every other economy,” he said.
“And then we were the first to get it back up,” the former president said, noting that stocks had risen above pre-pandemic levels during his administration.
“So it was incredible what we were able to do,” Trump said. “If you look at the jobs numbers, we had the all-time highest number of jobs; we had 160 million people working. We were never close to that,” he said, noting that segments of the population often left behind in the economy were on their way up.
“Now, when I look at what’s happening, we were energy independent. Very shortly, we will no longer be energy independent.”
Trump continued, “Gas prices are going up at a far more rapid rate than anybody has seen in a long time. We had gas prices very low and yet we had more energy jobs than we’ve ever had.
“But, you know, when you see gas prices going up — and they will be going up by $1, $2, $3 — if you look at that, and you know, that’s bigger than a tax increase.
“To the consumer, you get a dollar increase in gasoline, that is bigger than a take hike, than a big tax hike. So, it’s a terrible thing that is happening.”
“And then let’s talk about tax hikes,” the former president said. “They’ll be raising taxes at the highest number that we have ever seen. It will be the biggest tax increase in the history of our country to pay for everything.”
The Biden administration reportedly is working on a plan that would be the biggest tax hike in 30 years.
“It’s a very devastating thing. It’s a very sad thing to watch,” Trump said.
Earlier this month, former Shell Oil President John Hofmeister told Fox Business that the oil industry is “getting squeezed by the administration.”
“The prohibition on new leases from the Biden administration,” enacted by an executive order pertaining to the use of federal lands, will “create a psychology in the industry of there’s going to be less available and the psychology drives the pricing as well,” Hofmeister said.
“As long as we see this hostile administration, we’re going to have a problem with prices,” he said.
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