LANSING, Mich. (Michigan News Source) – As Michigan drivers watch the numbers on gas station signs climb and fall, many may have forgotten just how painful prices were during the Biden administration. For parts of his presidency, drivers stared at the pump the way people watch a horror movie villain.
During the Biden administration, gas prices surged across the country, reaching levels many drivers hadn’t seen in years. According to data from the U.S. Energy Information Administration (EIA), the national average price of regular gasoline climbed above $4 per gallon for several consecutive months in 2022, beginning in March and remaining there through July. Prices ultimately peaked at about $5.02 to $5.07 per gallon in June 2022, marking the highest national average ever recorded and putting significant strain on household budgets. Analysts point out that the jump was related to the Russia-Ukraine war.
High gas prices in Michigan under Biden.
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Michigan drivers felt that pain at the pump as well. Because the state’s prices generally track closely with the national average, Michigan’s statewide average also climbed above $4 per gallon for roughly four to five months in the spring and early summer of 2022. Although prices later eased and generally hovered in the $3 range through much of 2023 and 2024, the 2022 spike left a lasting impression on drivers who spent months watching the numbers on gas station signs climb past the $4 mark.
Gas prices right now.
During Biden’s presidency, gas prices averaged in the range of $3.60 a gallon. By comparison, under Trump and in the middle of the “war” against Iran by the United States and Israel, the price of regular gasoline across the country was reported to be $3.67 a gallon on March 14 according to AAA – not much higher than the average during the Biden years. In Michigan, it was $3.58 a gallon on March 14.
More than just oil.
Keep in mind that crude oil itself makes up only about 51% of the price of a gallon of gasoline, according to the EIA. The rest comes from refining costs, transportation, taxes, and retailer margins – all of which fluctuate alongside global supply, domestic production, and speculation in energy markets. That means prices at the pump can move quickly based on geopolitical tensions, trader expectations or, yes, Iranian threats.
But for drivers who remember paying more than $4 per gallon – and sometimes nearly $5 – during the Biden years, today’s prices shouldn’t be especially alarming. Notably, gasoline is currently cheaper during a Middle East conflict under President Donald Trump than it was during many stretches of Biden’s presidency.
