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GASOLINE

Leaving aside the still-high price of diesel, a backlog in new trucks and a difficulty in finding younger drivers could mean an already-stressed industry will remain that way for months, and possibly even years.
Summary: Instead of taking potshots, the president needs to admit that his administration has little influence over the historic spike in inflation, including gas prices, or the overall direction of the economy as the Fed takes aggressive action. Leadership requires balancing a vision of where the nation needs to go with a recognition of what can be realistically accomplished.
Letter writer offers a gas price strategy.
Summary: Yes, gas prices are tanking Biden’s approval numbers and, by extension, whatever chance Democrats still had to hold Congress in the midterms. This is bad for the party and, we’d argue, bad for the country. But turning to an idea that former President Barack Obama once correctly labeled a “gimmick” isn’t the way to regain the public’s trust.

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From the editorial: "Our visitors come by car (and in vans, campers, and trucks), and we can’t afford for them not to come. So if knocking 47 cents per gallon off the price of gas ensures they still do this summer, we have to scream out our support."
The report comes as the Biden administration prepares in the coming months to unveil new safety-related rules to curb methane emissions from pipeline systems that transport gas from production to local distribution.
The national median gas price set a record last week, topping $5 per gallon, according to the American Automobile Association, though it has since dropped below that mark.
The president will also call on states to temporarily suspend state fuel taxes, which are often higher than federal rates, and he will challenge major oil companies to bring back idled refining capacity.
Particularly galling to the White House is the jump in industry stock buybacks, returning to investors profits that the administration wants invested in more refining capacity to bring gasoline prices down.
Biden also said his staff would meet with oil industry executives this week after he told U.S. refiners in a letter last week that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity.

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The average price of gas in Minnesota and nationwide hit record highs last week, including at $4.98 per gallon nationwide on Monday, according to AAA. The national average rose to $5 a gallon last week for the first time.
Gas prices have steadily increased over the past month, responding both to global market forces beyond state and federal control, and rising inflation domestically. In mid-June of last year, the average cost per gallon was around $2.86. Today, it's nearly $4.76 — an unprecedented high for Minnesota, but still below the record national average of $5.
States including Florida, Georgia and Maryland have enacted state gas tax holidays, and while Minnesota has not yet taken action to reduce prices, some leaders and candidates have floated similar ideas.

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