White House: Falling gas prices mean more than OPEC numbers

KIFI

Published August 3, 2022 2:38 PM

By JOSH BOAK
Associated Press

WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia almost three weeks ago on the possibility that he could get some additional oil production out of OPEC+. But the cartel and other nations announced a scant increase of 100,000 barrels a day on Wednesday. The White House is responding by saying that what matters is the steady decline in oil and gasoline prices from summer highs. White House press secretary Karine Jean-Pierre says the decline began June 14. That’s the day the administration disclosed Biden’s trip to Israel and Saudi Arabia. Jean-Pierre says, “The moment he announced his trip we saw gas prices and oil prices coming down.”

Article Topic Follows: AP National Business

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