On Wednesday, President Joe Biden issued a warning to the oil and gas industry not to use Hurricane Ian as a “excuse” to hike gas prices.
The president urged Floridians to follow evacuation instructions as the Category 4 storm neared the gulf coast as he began his speech at the White House Conference on Hunger, Nutrition, and Health on Wednesday morning.
And if you’ll excuse me, I’d like to provide one more caution,’ Biden continued. I repeat: “Do not, do not, do not use this as an excuse to raise fuel prices or fleece the American people.” This is a caution to CEOs in the oil and gas business.
On Wednesday, President Joe Biden issued a warning to oil and gas corporations not to use Hurricane Ian as a “excuse” to increase gas prices.
While the price of oil has remained relatively low, Biden noted that gas costs ought to be declining.
The cost at the pump has recently increased once more.
The hurricane will only have a little impact on less than 2% of the nation’s oil production, he continued.
“This brief impact of the storm on oil output offers no justification for price rises at the pump.” None, he declared. I’ll ask authorities to look into price gouging if gas firms try to utilize this storm to hike costs at the pump.
The president continued, “For Americans watching, the industry should do the right thing.”