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Biden: Americans will endure higher fuel prices

Samizdat | June 30, 2022

The US will bear high gasoline prices for as long as needed, President Joe Biden said on Thursday during a news conference at the NATO summit in Madrid.

When asked how long American motorists should expect to deal with high fuel prices, Biden told reporters “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.”

US gasoline prices, a key driver of the highest inflation seen in the country in 40 years, hit a record $5-a-gallon this month. The prices have been on the rise since the start of the year, reflecting significant consumer demand outstripping the supply of oil, as well as the ongoing turmoil in energy markets. Biden had earlier reassured the public that the US government was doing everything it can “to reduce this pain at the pump.”

The White House has repeatedly blamed Russian President Vladimir Putin for causing inflation in the US, with Biden describing it as “Putin’s price hike.”

However, the US Federal Reserve has recently rejected the assertion that soaring inflation in the country was mostly being driven by the crisis in Ukraine, pointing out that prices had been rising well before that.

June 30, 2022 - Posted by | Economics, Russophobia | , ,

1 Comment »

  1. “The White House has repeatedly blamed Russian President Vladimir Putin for causing inflation in the US, with Biden describing it as “Putin’s price hike.”

    They’ve been blaming Putin for EVERYTHING lately. Putin must be only getting about 1 hour’s sleep each night, organising the results of the American election(and everything else he has been accused of for the past few years.
    And, of course, the American motorist is footing the Bill for the War in Ukraine, by paying exorbitant prices for fuel.

    Like

    Comment by brianharryaustralia | June 30, 2022 | Reply


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