US President Joe Biden said that high gasoline prices in the United States may be the result of the machinations of oil companies. He said this at a briefing at the White House.
According to him, the price of gasoline on the wholesale market has fallen by 10% over the past few weeks.
"But the price of gasoline at the gas station has not decreased by a penny. In other words, fuel supply companies pay less and get much more," he said.
Thus, oil companies "pocket the difference in the quality of profits," the president stressed.
Earlier, US President Joe Biden announced that 50 million barrels of oil from the country's strategic reserve will be printed out in the country. This is reported on the White House website.
The use of part of the strategic reserve will reduce prices for Americans and eliminate the discrepancy between supply and demand, the report says. It is also clarified that as a result of US diplomatic efforts, the measure will be adopted in parallel with other energy-consuming countries, including China, India, Japan, the Republic of Korea, and the United Kingdom.