Who's to blame for the pain at the pump?

 

MADISON Wis. (CBS 58) -- As those record-high gas prices continue to tick up, many have different opinions on who or what's behind it.

Some lawmakers in Congress put the blame on President Joe Biden and his policies for sky high prices. Meanwhile others say gas companies are the culprit of ripping Americans off.

"Gas companies and [their] greed," said Krista Korpal from Milwaukee. "Keeping those huge profits, they've been hitting this year. Must be nice."

The short answer -- it's multiple factors and not one person or political party is to blame, according to Moses Altsech, an expert in marketing and lecturer at UW-Madison School of Business.

"It's not anybody's fault,” said Altsech. “Whether you have Democrats or Republicans in charge the same thing was going to happen.”

Sanctions on Russia over their invasion of Ukraine, oil companies and the pandemic are all reasons behind the spike in gas prices.

The White House says bringing down prices is their top priority, but they admit they've exhausted most of their options. The Biden Administration has tapped into the strategic petroleum reserve, loosened ethanol restrictions and smoothed out supply chain issues.

"It's going to get worse, but I think it will get better in the next year or so," said Benjamin Hibbard from Milwaukee.

Some states have issued a gas tax holiday, but suspending Wisconsin's .32 cent gas would require action by the GOP-controlled legislature. Gov. Tony Evers supports the idea, but he admits there's little he can do to provide relief.

"The state's role in taking care of inflation is minor," Evers said. "We need help from the federal government."