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Pandemic that has led across the globe to supply shocks, higher prices, that have been very frustrating to families of the united states, and families across the world. and then, at a time when gas prices were $3.31 on january 17th of this year, putin moves forces and belarus and the border of ukraine, and now we are over $1 higher. these two factors, you know, again, everywhere in the major global economies has meant the frustration for many families of having higher prices. and often in countries that haven t seen historic job growth, or the comeback in growth that the united states has. so the president went down today to say, look, this is a global issue, we re all dealing with the aftershock of this pandemic. but what s the plan? what can we do? you re right. absolutely, one of the most ....
Everything possible that a president can do. he has had historic supply spro, strategic petroleum release, 1 million per month going up. john: but that doesn t help look, as we went into january there was a lot of feelings that things would start to come down, and then on january 17th if you remember, on january 17th when russia first went to the border of belarus, gas prices were at 3.31. they have now gone up since putin s aggressive and inexcuseable behavior to 4.37. so it s over a dollar putin s tax. jacqui: but it s not just gas prices going up, it is food prices. i want to show you the price increases. meat, 14.8%. beef 16%. respectfully, gene, people are not thinking about how bad it is in europe, they are not thinking ....
Create excess demand, create higher inflation, which is exactly what happened and i think the other point is energy policies. i mean, look, the bidens have run a war on fossil fuels, and that is responsible for most of the increase in oil prices and gasoline prices at the pump. i think there s a case to be made in the last 4, 5 weeks, six weeks, but with respect to putin, but i was interested that gene sperling said as of january 17th, kind of an early date, but there was no invasion until later. but he said gasoline was 3.31. well, that s interesting because it was $1 less than that six months or nine months earlier. so, they re ignoring the prior increase in energy, which is because we are still producing what, a million and a half barrels a day less than we were pre-pandemic, and the environment review policies, the ....
According to aaa. that could have political consequences for president biden, his larger agenda, and bianna, the oil markets seem to be pointing toward higher oil prices this year, too. some predictions that they could go up to $100. cnn s matt egan joins us from new york. matt, u.s. consumers, as we know, are already feeling anxious with high inflation. the biden administration had been pointing to lower gas prices over the past few weeks, so what are they saying now about this sudden increase? well, jim and bianna, alarm bells have got to be ringing inside the white house over energy prices. we actually saw gas prices start to tick lower at the end of last year, but that proved to be very short-lived. the national average at $3.31 a gallon. that s up about a penny from a week ago and more than a dollar from a year ago, and pump prices are likely to go higher in the coming weeks because gas follows the lead of oil. u.s. oil topped $85 a barrel this morning for the first time since ....
And has not been able to. john: well, you know, i ve always lived by the adage underpromise and overdeliver. so that s better advice, better advice. john: and learn something new every day and go to bed smarter than you woke up. byron york, appreciate it. sandra: great words to live by. prices at the pump making matters worse for this president and his fellow democrats. bring in former reagan economist, art, feels like we were talking about this several months ago, gas prices, high energy prices a huge problem. sort of took a little bit of a breather there but they seem to be back and forecasted for over $4 the national average, and predictions it could go higher. here is the national average, 3.31, a year ago, almost up a dollar from a year ago. a big impact on the american family, not only that, they are facing higher home heating ....