Here's what President Biden is calling on Congress to do to help ease the burden of high gas prices:
The average national price drop of gasoline below $5 on Saturday was the first weekly drop in nine weeks—but the number continues to remain nearly $2 above what it was at this time last year. The steep rise in gas prices is a result of crude oil prices breaching decade-long highs earlier this year, following Russia’s invasion of Ukraine.
Russia, which is a key producer of petroleum, has been the target of multiple western sanctions including aon Russian energy imports. In addition to that, other members of the group of oil-producing nations, OPEC, were slow to ramp up production following the invasion, leading to a supply crunch. High prices at the pump has been one of the key factors behind the
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