CARBONDALE, Ill. (WSIL) -- The Biden Administration's move to lower gas prices is a symbolic gesture, says one SIU political analyst.
President Joe Biden on Tuesday announced the release of emergency oil reserves to combat high energy prices ahead of the busy holiday travel season, but it will be weeks before the barrels hit the market.
John Shaw, director of the SIU Paul Simon Public Policy Institute, says there's more demand in oil compared to last year when the pandemic dampened travel plans worldwide.
Now that travel is returning to pre-pandemic levels, Shaw says supply is heating up. The Biden Adminstration hopes the announcement can help lower gas prices, something Shaw feels will happen 'slightly'.
Shaw says the president has very little impact on global oil prices and the move shows Americans 'he's doing everything he can'.
"It's a political move to show to the American people that he gets the anxiety that gas prices are causing," Shaw said. "I don't think anyone believes this is going to change the long-term trajectory of oil prices."
Shaw believes the move could point to a concern with the Biden Administration about the state of the economy, specifically the rise of inflation.
Americans are paying more on average for gas this year than around the same time last year.
The national average for gas during Thanksgiving week 2020 was $2.10. This year, the national average ballooned to $3.39 a gallon.
According to AAA, Illinois has the 10th highest gas price per gallon among U.S. states. The average price per gallon in Illinois is $3.57 as of Tuesday.
It's the opposite in Kentucky and Missouri, two states with some of the lowest gas prices in the nation. The average price per gallon in each state is roughly $3.07 as of Tuesday.
