White House doubles down at Jeff Bezos over gas cost argumen...| MENAFN.COM

Sunday, 07 August 2022 09:21 GMT

White House doubles down at Jeff Bezos over gas cost argument


(MENAFN) Leader Joe Biden's White House fires back on accusing gas stations for high costs in a response against billionaire Jeff Bezos on Sunday.

Bezos claimed earlier Sunday that the Biden government's assertion on accusing oil firms for high costs presented "a deep misunderstanding of basic market dynamics."

White House press secretary Karine Jean-Pierre worsened the Twitter fight, declaring gas firms have rejected to cut costs at the pump even as the base price of oil went down.

"Oil prices have dropped by about USD15 over the past month, but prices at the pump have barely come down. That’s not 'basic market dynamics.' It’s a market that is failing the American consumer," Karine said to Bezos.

"But I guess it’s not surprising that you think oil and gas companies using market power to reap record profits at the expense of the American people is the way our economy is supposed to work," she went on.

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