Psaki 'not aware' of Biden admin outreach to oil companies on lowering gas prices
Biden is under pressure to address a global fuel shortage
States with highest gas prices
FOX Business' Jeff Flock reports on rising prices at the pump from Pennsylvania, noting the states that are facing the highest and lowest gas prices.
White House press secretary Jen Psaki said Wednesday that she was unaware of any direct talks between Biden administration officials and energy companies about efforts to lower gas prices.
Psaki responded to a question regarding a Reuters report which noted the White House was in contact with U.S.-based oil and gas producers about the energy crisis. Sources said the talks touched on several topics, including gas prices.
"I’m actually not aware of any contact with oil and gas companies around this particular issue."
ENERGY SECRETARY GRANHOLM TALKS SPR RELEASE
High natural gas prices will likely continue: Petroleum expert
GasBuddy's head of petroleum analysis Parick De Haan says that while the U.S. is ‘somewhat insulated,’ Europe and Asia will have a challenging year for gas prices
The Biden administration is under pressure to address a global fuel shortage that has led to surging prices at the pump for U.S. consumers. The price of gas reached nearly $3.29 per gallon as of Wednesday, an increase of more than $1 compared to one year ago.
Psaki said Biden’s top economic advisers are exploring potential solutions.
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"The president has asked his economic team, as they do on any range of issues impacting the public, to continue to discuss what the options are that we can take to address these shortages," Psaki said. "We know some of the issue here is supply as a result of the pandemic and there’s natural gas shortage around the world, hence the need for the United States to continue to export natural gas."
Drivers facing highest gas prices in 7 years amid 'global energy crunch'
Head of Petroleum Analysis at GasBuddy Patrick De Haan notes that oil demand is currently 'much higher' while 'supply is not growing along with it.'
Psaki said the White House was considering a "range of options," but she declined to provide further details.
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The White House has asked OPEC+, a group comprised of members of the OPEC oil cartel and allies including Russia, to expand production to help address the global fuel shortage. Despite the pressure, OPEC+ nations said earlier this month they maintain their current benchmarks for fuel production.