Energy prices have continued to rise under President Joe Biden’s radical energy and climate agenda. In 2021, household electricity prices rose 8 percent. Electricity price increases accelerated even more in 2022, and have now risen 17 percent since December 2020, the last month before Biden took office.
Key Points
Over the Past Two Years:
• Overall residential electricity prices increased by 17 percent
• Industrial electricity prices rose 34 percent
• Home heating oil prices increased by 88 percent
• Oil prices rose 61 percent
• Natural gas prices rose 51 percent
• The price of gasoline rose by $1.15 per gallon, or 46 percent
Linnea Lueken
Linnea Lueken is a Research Fellow with the Arthur B. Robinson Center on Climate and Environmental Policy.
