Trump believes that gasoline prices in the U.S. will double after the election in November
President Joe Biden’s release of the U.S. strategic oil stockpile is only intended to strengthen the Democrats’ position before the midterm elections in November, after which gasoline prices will at least double.
“I’ve filled strategic oil reserves, and now I’m using them to keep prices low before the election. Right after that, prices will double, go to unprecedented heights,” Trump said at a rally of his supporters in Ohio.
Trump added that strategic oil reserves are meant to be used “in case of war, not to lower prices before an election.”
Earlier this week, Reuters, citing the U.S. Department of Energy, reported that strategic oil reserves in the U.S. have fallen to 434.1 million barrels, which is the lowest level since 1984. A year ago, the strategic oil reserve, located in the states of Texas and Louisiana, contained 621 million barrels.
The midterm elections will be held on November 8. All 435 members of the House of Representatives and 34 senators will be elected. Currently, most seats in the lower house of Congress are held by Democrats, while there is parity in the Senate: 50 seats each in the two parties.
But since the post of Vice President is held by Democrat Kamala Harris, her fellow party members have an advantage. The vice president of the U.S. is the chairman of the Senate, and can support one or another position if the legislators are equally divided in their consideration of the issue. Republicans are counting on the fact that they will be able to seize control of Congress, which will seriously complicate the legislative initiatives of the Biden administration.