While speaking at the White House Competition Council, President Biden called for oil companies to lower gas prices amidst recent records showing sky-high profits.
BIDEN: “We haven't seen the lower prices reflective of the pump though and meanwhile oil and gas companies are still making record profits, billions of dollars in profit. But guess what? Price of oil will come down, don't you think the price of the pump should come down, price of a gallon gasoline. But it takes a long time for that to happen in roles and terms. And their making a lot of profit and the public is paying its part of the inflation. And, but look, I'm gonna say it’s simple: to the companies running gas stations and setting those prices at the pump, bring down the prices you're charging at the pump to reflect the cost you pay for the product. Do it now, do it now. Not a month from now, do it now.”
