Bidenomics is working as expected; gasoline prices are soaring. Mr. Biden will likely start draining the emergency reserves again.

Gasoline prices have surged to a record high for this time of year in the US,  reports Bloomberg. It’s not going to help Biden’s Bidenomics platform.

Average regular gasoline now costs $3.866 a gallon, a seasonal record on a trailing-12-months basis, according to data from the American Automobile Association.

In California, the average price of gasoline is $5.68. Their taxes are higher, and they use a special blend that costs more.

Prices have risen 7.8% in just eight weeks in a rare late-summer rally, says Bloomberg.

The gains have been driven by increases in the price of oil, which jumped about 20% in the past two months. Gasoline costs already accounted for over half of the increase in the August consumer price index.

The continued escalation will likely stoke inflation further while eroding consumer confidence.

It’s unusual to see gasoline climbing after the end of the summer-driving season that boosts US demand, per Bloomberg.

Biden has also alienated Saudi Arabia and OPEC+. Everything will start going up. Last month, it went up ,7%.