Biden Agenda – Gas prices going up 2021?

One of the keys to maintaining the White House in 2024 is the administration’s performance with the economy. According to Professor Lichtman, author of Predicting the next president, the rule of thumb is that a good economy helps the incumbent party and a bad economy hurts. A good economy does not guarantee the White House, yet a bad one, no incumbent administration has won reelection in any of the ten elections in which the economy was in a recession during the fall campaign. This includes the Trump Administration. Gas prices for not predict a recession however, in an Economist / YouGov poll, the purchase price of the dollar, or at least what services and products Americans purchase, highly influenced Americans’ perceptions of how the economy is doing.

Presidents can pursue policies that over a period of time can influence gasoline prices in one direction or another, but their ability to impact gas prices quickly is pretty limited. We will see over the next four years how the Biden Agenda will affect gas prices.