President Joe Biden is reaching out to the U.S. oil industry for insights on the constantly soaring prices of Gasoline. With the ongoing trends, Biden discussed recent patterns of retail fuel prices with the flagbearers of the U.S. oil industry.
Gasoline prices across the United States have escalated enormously reaching a new high of $3.26 per gallon this month. From this week onwards, drivers across certain states have also been compelled to pay over $4 per gallon of gas, analysts say. High fuel prices at the pump are notoriously vulnerable exploited routinely for being a voting preference. As the Democrats start preparing for the new year’s midterm, action needs to be expedited upon lowering the trending surge in prices.
The Biden administration has already knocked on the door if OPEC+ for introducing larger volumes of oil to the market. However, OPEC+ has been equally persistent in denying the administration’s requests. the cartel continuous to its systematic approach on maintaining the elevated prices of crude. The president has now turned his focus to an industry which directs the efforts in the opposite direction of Biden’s political agenda.
Earlier this year, when President Biden called upon OPEC+ seeking for more oil, it somehow triggered an aggressive response from the Texas Governor Gregg Abbott. Gov. Abbott used social media as a platform to boldly clear that if only the administration stopped intervening, Texas oil producers would be more than willing to help. Small independent oil producers have already begun with rigorous efforts to ramp up production.