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Biden vows U.S. will get through spike in gasoline prices -Breaking

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© Reuters. U.S. President Joe Biden announced the 50 million barrels of oil being released from the U.S. Strategic Petroleum Reserve. This is part of a coordinated effort to lower rising prices. He also made remarks about the economy.

WASHINGTON, (Reuters) – President Joe Biden said Tuesday that the United States would weather a rise in gasoline prices. He also stated that a coordinated release by a few countries of their oil reserves will be helpful.

Biden claimed that there was no evidence to suggest that oil companies are passing down a fall in crude oil prices to their customers. Biden stated that price increases tend to subside over time, but it doesn’t necessarily mean we shouldn’t just wait and watch for them drop by themselves.

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