Because “this is a time of war and global risk,” President Biden is ordering businesses that are “operating petrol stations” to “lower down” their rates.
This is a time of war and global risk, that is my straightforward message to the firms running gas stations and setting prices at the pump, Biden tweeted on Saturday.
“Reduce the pump price to reflect the price you are actually paying for the product. Do that right now.”
His tweet received support from Chinese state media as well. In response, Biden “finally realised that capitalism is all about exploitation,” said Chen Weihua, China Daily’s EU Bureau Chief.
Gas prices are currently averaging $4.822 countrywide, up more than 20 cents from just one month ago, when Biden’s tweet was sent.
OIL AND GAS DRILLING PLANS ANNOUNCED BY BIDEN ADMINISTRATION, BURNING TRUMP-ERA FRAMEWORK
Joe Biden, president- Because “this is a time of war and global risk,” President Biden is ordering businesses that are “operating petrol stations” to “lower” their rates.
Despite his campaign commitment to always take responsibility and not place blame elsewhere, he has frequently shifted blame for the rise in gas prices on Russian President Vladimir Putin, calling it the “Putin’s Price Hike,” a term used frequently by the White House.
In a speech on June 22, Biden stated that “these are not normal times,” which is not the first time he has directly appealed to “businesses controlling gas stations.”
“Let’s speak the truth to one another then. My point is clear. This is a time of war, global crisis, and Ukraine, so please take note when setting prices at the pump.
Times like these are not typical “added Biden. “Reduce the pump price to reflect the price you are actually paying for the product. Act right away. Try it now. The American people, who are your clients, urgently require assistance.”
The White House disputes claims that Joe Biden is “vilifying” the US oil industry. THESE ARE NOT PERSONAL,
Cost of Gas
On Monday, March 7, 2022, these are the gas prices at a Sheetz location in Sewickley, Pennsylvania. Gene J. Puskar/AP Newsroom/AP Photo
The president’s failed attempt to enact a 90-day gas tax break, which was derided as absurd even by Democratic members, prompted Biden’s plea.
According to E&E News, Majority Leader Steny Hoyer, D-Md., remarked, “I don’t know that we have the votes.”
Sen. Tom Carper, D-Del., stated: “Suspending the main way that we pay for infrastructure projects on our roads is a shortsighted and ineffective way to bring assistance.”
The measure is “short-sighted,” according to Rep. Peter DeFazio of Oregon, and “relies on the cooperation of oil firms to pass on tiny savings to consumers.”
Per gallon of gasoline sold, gas stations actually generate very little money. According to studies, gas stations make about 15 cents per gallon before costs and about 5 cents per gallon after costs are taken into account. To entice consumers to buy food, drinks, and other items that generate more earnings, they sell gas.
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California taxes gas at the highest rate in the country, a little over 59 cents per gallon after the state raised its tax on July 1.
States and the federal government tax each gallon of gas at much higher rates than the profits gas stations make at the pump, with California taxing gas at the highest rate in the nation.
