Biden promises to survive high fuel costs | MENAFN.COM

Sunday, 14 August 2022 03:54 GMT

Biden promises to survive high fuel costs


(MENAFN) As claimed by Leader Joe Biden, The US is going to deal with high gasoline costs for as long as needed, in a news session at the NATO conference in Madrid.

Biden said to journalists “As long as it takes, so Russia cannot in fact defeat Ukraine and move beyond Ukraine.” He stressed that “this is a critical, critical position for the world” after he got a question on how long American motorists should expect to bear high gasoline costs.

US fuel prices, a main cause for the highest inflation witnessed in the nation since 4 decades, hit a record USD5-a-gallon in July. The costs have been rising since the beginning of 2022, indicating big consumer demand outstripping the supply of oil, in addition to the current turmoil in energy markets.

Biden had earlier calmed the community that the US administration was doing everything it can “to reduce this pain at the pump.”

The White House has repeatedly accused Russian Leader Vladimir Putin for causing inflation in the country, with Biden labelling it as “Putin’s price hike.”

MENAFN03072022000045012476ID1104470516


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.