US President Joe Biden said “U.S. fuel prices have continued to decline since the beginning of the summer.”

Last July, U.S. President Joe Biden confirmed that “oil prices fell 20% in June, but fuel prices fell by half that percentage,” opining that “it’s time for oil and gas companies to work to let the fall in oil prices reflect on markets.”

In this context, the White House has previously indicated that “we expect a steady increase in oil production from OPEC + in the near future”, explaining that “an increase in oil production in the market after the visit of US President Joe Biden to the Middle East will force a clear difference in fuel prices “.

He stated that “the price of a gallon of gasoline has dropped to less than $4 and we expect this decline to continue in the coming weeks.” Russia is using natural gas and oil as weapons after invading Ukraine.” He stated: “We understand that Russia can cut off gas from Europe, which prompted us to form a working group to diversify European energy sources.”