• Пт. Лют 3rd, 2023

Economic news / Економічні новини

News of economy, energy, trade, finance / Новини економіки, енергетики, торгівлі, фінансів

Biden launches appeal amid rising fuel prices


Чер 23, 2022

US President Joe Biden has called on US refineries to boost gasoline production amid record-breaking domestic fuel prices.

“I urge the national oil industry to turn more oil into gasoline to bring about lower prices,” the American leader said.

Earlier, Biden asked Congress and state authorities to temporarily cancel the country’s fuel tax. He is sure that the abolition of the fuel tax is far from the only measure that can be taken to reduce the costs of the population and support Americans in the face of record inflation in several decades.

US Treasury Secretary Janet Yellen, in turn, spoke about the mechanism for reducing Russia’s oil profits. According to Yellen, the initiative, which is being worked out by Washington and its allies, is designed to expand the supply of Russian oil to the world market, but at the same time reduce its cost.