US President Joe Biden again accuses the major oil companies of bearing part of the responsibility for the issue of high fuel prices, while at the same time his administration is using all available means, including its reserve stocks, to lower prices.
According to Arabiya Net, Biden said that fuel prices in the wholesale market have fallen by about 10% over the past years, but the price at gas stations has not moved a penny.
The US president added: Fueling groups pay less and profit much more, accusing companies of earning the difference between wholesale and retail prices. It was deemed unacceptable.
US Energy Secretary Jennifer Granholm said, for her part, that fuel prices at stations are very high at the moment, but we will turn the page in early 2022.
And before Americans begin their long-distance trips to spend the Thanksgiving holiday Thursday with their families, the Democratic president launched an initiative to pump 50 million barrels of strategic oil reserves into the American market , which is the largest amount ever decided to be used.
This initiative, according to the Minister of Energy, aims to reduce oil prices, which have risen by 60% since a year.
We believe that the price of a barrel (3.78 liters) will drop in December to $3.19 compared to an average of $3.40 on Tuesday in the United States. , and that it will decrease further in January.
