White House Calls Steep Gas Prices ‘Frustrating’

The White House hopes OPEC+ member countries will decide to release oil supplies to meet demand when they meet this week and said it was frustrating to see oil prices go down without a corresponding drop in gasoline prices at the pump.

“Yes, we’re frustrated. We’re frustrated because you’ve seen a decrease in oil prices. You’ve not seen a decrease in gas,” White House press secretary Jen Psaki said at a news briefing.

“It doesn’t take an economist. It doesn’t take in oil market expert to recognize that that doesn’t sound, look or smell right.”

President Joe Biden has sought investigations possible illegal conduct into oil and gas markets that are keeping fuel prices high.

The White House is in regular touch with OPEC member countries and hopes they will take action during a policy meeting on Wednesday, she said.

“We are hopeful they will release supply to meet the demand up there on the marketplace,” Psaki said.

© 2021 Thomson/Reuters. All rights reserved.

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