Washington/UNI/Sputnik: US President Joe Biden sought on Saturday to persuade companies "setting prices at the pump" to lower their charges immediately as his administration struggles to cap runaway gasoline prices that are hurting his approval rating.
"My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now," he said on social media.
Gasoline prices currently stand at $4.8 a gallon, down from the all-time high of $5 a gallon recorded in June, but way above $2.38 charged at the pump when Biden took office in January last year or $3.1 in July of 2021.
Biden admitted last week that prices would not have spiked this way if not for the sanctions on Russia.