How President Biden’s policies impact gas prices

first_imgIndianaLocalMichiganNews Facebook Google+ Google+ (“Gas Pump” by Mike Mozart, CC BY 2.0) President Biden does have an impact on gas prices, but GasBuddy says it is complicated.“At this point, he has made some policy adjustments that will absolutely have an impact on prices down the road, but those are not having an impact now,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.Not long after he was elected, the President signed an executive order to cancel the Keystone XL Pipeline.“A pipeline that is not in existence or has not been in existence at a time when demand is not normal is not having an impact now, but that is likely to change down the road,” said DeHaan.While prices have been hovering between $2.60 and $2.70, DeHaan says the reason demand has dropped and prices haven’t increased is because of a recent small increase in coronavirus infections.“Indianapolis is now about 13 cents per gallon under a month ago and about 3 cents lower than a week ago. If we see more of an uptick, that could cause states to go back into further lockdown and restrict travel, thus reducing demand,” said DeHaan.DeHaan said the opposite will happen if the situation with the coronavirus improves.“But where we go this summer is really going to unpredictable. It will be tied to the hip of where we are in the pandemic,” said DeHaan. Facebook Twitter Pinterest Pinterest Previous articleMore calls for Michigan GOP Chair to resignNext articleNew Indiana Democratic Chairman is a South Bend native Network Indiana By Network Indiana – March 30, 2021 0 145 WhatsApp How President Biden’s policies impact gas prices Twitter WhatsApplast_img read more