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Energy prices are in decline as retirees return to the workforce and record redemptions spell trouble for Special Acquisition Companies.
Rising inflation has hampered Biden from getting credit for positive economic news such as low unemployment and a strong stock market.
Biden expressed hope last week that gas prices would head lower.
The national average price for a gallon of regular gas fell to a seven-week low of $3.35 a gallon, according to AAA. CNN's Matt Egan reports on cooling Gasoline and natural gas prices.
The price at the pump is still high but has finally stopped going straight up.