With the Biden administration ‘in inflation panic mode’, major US companies face pressure to drive down oil prices during this season’s peak consumption
With the White House ‘in inflation panic mode’, US companies face pressure to drive down oil prices during this season’s peak consumptionAn oil refinery is seen in this file photograph. Picture: REUTERS
As the US struggles to tackle soaring gasoline prices and inflation, Biden is expected on Wednesday to call for temporarily suspending the 18.4c-a-gallon federal tax on gasoline, a source briefed on the plan told Reuters. Chevron CEO Michael Wirth, however, on Tuesday, said criticising the oil industry was not the way to bring down fuel prices.
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