May 10, 2022, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following correction to his earlier statement responding to Gas Buddy petroleum analyst Patrick De Haan’s claim that 2008 gasoline prices were “the highest inflation adjusted ever”:
“Our earlier statement incorrectly stated that Gasbuddy’s Patrick De Haan said 2008 was the greatest gasoline price inflation in history. De Haan was actually talking about inflation-adjusted gasoline prices, saying 2008 had the ‘highest ever’ inflation-adjusted gas prices, but that’s still wrong. On an inflation-adjusted basis, every year from 1935 to 1966 had higher inflation-adjusted gasoline prices compared to 2008. In fact, using this very metric, 2008’s $3.27 per gallon would be $3.78 in 2022 after adjusting for inflation. That is slightly less than 2022’s year to date average of $3.79 per gallon through April, according to data compiled by the U.S. Energy Information Administration. Therefore, 2008 was still not the ‘highest ever’ gas prices, even on an inflation-adjusted basis.
“The main point is that the Biden administration wants higher prices at the pump to move consumers to alternative energy sources, and to deny this is to deny one of the raisons d’être of this administration.”
For media availability contact Americans for Limited Government at media@limitgov.org.
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