Biden Warns Oil Industry Not to Raise Gas Prices as Hurricane Ian Nears

There are few signs that average gas prices have jumped significantly in Florida as the hurricane began to approach. AAA put the statewide average at just under $3.40 a gallon, six-tenths of a cent higher than a week ago.

A 99-day run of falling pump prices nationally ended recently, and the 14-week decline was the longest streak since 2015. The nationwide average price had risen past $5 a gallon — and $6 in California — in June as the economic recovery and an increase in travel boosted demand for gasoline and Russia’s war in Ukraine caused a spike in oil prices.

Gasoline prices mostly reflect trends in global oil prices, and crude — both the U.S. benchmark and the international Brent — has been slumping since mid-June on growing fears of a global recession that would reduce demand for energy. Many energy analysts believe prices are more likely to rise than fall in the next few months. But changes in sentiment about the economy, Russia’s war against Ukraine, and even hurricane season — always a threat to disrupt refineries along the Gulf Coast — make predictions uncertain.

The hurricane intensified as it neared landfall, gaining top winds of 155 mph , just shy of the most dangerous Category 5 status. Damaging winds and rain lashed Florida, and forecasters said the heavily populated Fort Myers area could be inundated by a storm surge of up to 18 feet Associated Press writer Darlene Superville contributed to this report.

We are literally poor now! Thanks! You took back prices then raised them slowly back. All of us except for the 1 percenters. It isn’t fair that they are jumping through lope holes while the rest of us suffer! I voted for you btw! Can’t live like this

Well that’s all it will for those oil companies to listen!

What's he gonna do if they raise prices?

On what authority? If they do, what will Biden do? Nothing…

tell that to California law makers. texas gas 2.78 gallon, california 5.95 gallon

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He’s drinking peas thru a straw, not warning anybody!

Doesn’t supply and demand influence the price? Demand is high dwindling the supply … it is a capitalist country still isn’t it no matter what potus “threatens” to do unless there are oil reserves again to tap into 😆

Oh the oil companies are so afraid of you joe I got News there all laughing at you! You created this mess and no clue how to fix it. Lame duck in two months yea!

Says the man who takes showers with his teenage daughter 🤢

POTUS ALL TALK, NO ACTION!!!

The oil companies response to Biden

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Biden to oil industry: Don't raise prices as hurricane nearsPresident Joe Biden on Wednesday warned oil and gas companies against increasing prices for consumers as Hurricane Ian neared landfall along Florida’s southwest coast. “Do not, let me repeat, do not use this as an excuse to raise gasoline prices or gouge the American people,” Biden said at the start of a conference on hunger in America. Biden said that the hurricane “provides no excuse for price increases at the pump” and if it happens, he will ask federal officials to determine ”whether price gauging is going on.” WHCOS It is so great to have a president who has our backs. I think if James Taylor's song, 'You've Got a Friend.' Oil companies don’t set fuel prices. Pretty said when the “leader” of our country has no clue how his own country works WHCOS Oil companies love natural disasters! MoreProfit
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