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President Joe Biden blamed Russian President Vladimir Putin on Monday for the latest spike in gas prices, suggesting the foreign leader had enacted a “gas tax” on America by invading Ukraine.
Biden spoke about how in 2021, the used car market was artificially high because of a shortage of available computer chips.
“This year we have a similar problem, but it’s because of energy because of Putin’s gas tax,” he said, describing the tax as “the gas tax of him causing such a disruption in oil markets around the world.”
The AAA national average for a gallon of gas is now $4.574, breaking the previous record set in early March.
The president spoke about high gas prices during a political fundraiser on Monday evening.
Biden complained that inflation was an “incredibly difficult problem,” but he did not offer any specific solutions to address high gas prices.
He proposed more government spending on research and development, indicating it would help reduce inflation.
“The generic point is we have to invest in ourselves, invest in our people, so that we can, in fact, continue to lead the world on all the things that are so — there are so many incredible opportunities for not only us but for the rest of the world,” he concluded.