Biden Calls for Gas Prices To Decrease As Oil Drops

Biden Calls for Gas Prices To Decrease As Oil Drops

Biden Calls for Gas Prices , To Decrease As Oil Drops.

CNN reports that President Joe Biden called out fuel companies for dragging their feet on changing gas prices as the cost of a barrel of oil has fallen.

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CNN reports that President Joe Biden called out fuel companies for dragging their feet on changing gas prices as the cost of a barrel of oil has fallen.

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Oil prices are decreasing, gas prices should too.

, President Joe Biden, via Twitter.

Last time oil was $96 a barrel, gas was $3.62 a gallon.

Now it's $4.31.

, President Joe Biden, via Twitter.

Last time oil was $96 a barrel, gas was $3.62 a gallon.

Now it's $4.31.

, President Joe Biden, via Twitter.

Oil and gas companies shouldn't pad their profits at the expense of hardworking Americans.

, President Joe Biden, via Twitter.

According to AAA, prices have dropped, but hardly by a noticeable amount.

As of March 16, the average price of a gallon of gas in the United States stood at $4.31, reflecting a price drop of two cents since the beginning of the week.

Critics say the increased price of fuel will have real economic consequences.

Per Moody's Analytics, each increase of 10 cents in the price of gasoline costs consumers $11 billion over one year.

Per Moody's Analytics, each increase of 10 cents in the price of gasoline costs consumers $11 billion over one year.

If prices remain as high as they are currently, Americans will spend an average of an additional $1,300 on gas annually.

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If prices remain as high as they are currently, Americans will spend an average of an additional $1,300 on gas annually.