11:41
Traffic jam:   4
$
92.5919
100.2704

Rising gasoline prices in the United States: Joe Biden to speak on 31 March

31 March 2022
2901
2 min.
6
Rising gasoline prices in the United States: Joe Biden to speak on 31 March

Petrol in the US

US President Joe Biden will give a speech at the White House on Thursday on measures to combat rising petrol prices in the United States. This is stated in the schedule of the US leader circulated by the White House on Wednesday.

Biden's speech will be devoted to the measures of his administration aimed at "reducing the impact of rising energy prices and lowering gasoline prices for American families," the document said. According to the US authorities' version, the fuel price hike is caused by Russia's actions.

Earlier on Wednesday, Bloomberg journalist Jennifer Jacobs, citing sources, reported that the Biden administration was considering releasing a million barrels of oil daily from the strategic reserve for several months.

The total amount of oil to be released from storage could reach 108 million barrels. For his part, The Washington Post reported that Biden is expected to announce the measures on Thursday.

Rising prices in the US

On 8 March, Biden signed an executive order banning energy imports from Russia and new investment in the Russian energy sector.

The US Treasury has set a deadline of 22 April to complete deals to import oil, petroleum products, LNG and coal from Russia into the country. However, gasoline prices at US gas stations began to rise markedly thereafter, even though inflation in the country had already been at a high level for a long time.

As the US Department of Labor reported on March 10, the consumer price index in the US reached 7.9% in February over the last 12 months, the highest level since January 1982.

On a monthly basis, consumer prices rose 0.8% in February. According to the Labor Ministry, gasoline, housing and food prices rose the most.

It is worth noting that, according to the agency, the cost of gasoline has recently repeatedly hit a historic high. On 29 March, the average price of fuel was $4.24 per gallon (3.785 litres) of Regular.

Persons2 and Companies4 in the news

Journalist at Bloomberg L.P.
1 place
46th President of the United States
2 place
Bloomberg L.P.
3 place
White House
4 place
Section:
Source foto:
www.theguardian.com

Discussion

Rating companies
Tesla
14 Mention
Instagram
13 Mention
JP Morgan Chase
12 Mention
Walt Disney Company
12 Mention
Ford Motor Company
10 Mention
Netflix
10 Mention
Amazon
9 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8112606943
Died this year
14235853
Born this year
35022718