Biden warns oil, gas companies to not raise gas prices over hurricane
Sep 29, 2022 - 04:00 AM
WASHINGTON (AA) – President Joe Biden on Wednesday warned US oil and gas companies to not use Hurricane Ian as an excuse to hike gas prices.
“That is warning to the oil and gas industry executives. Do not, let me repeat, do not use this as an excuse to raise gasoline prices or gouge the American people,” said Biden at a White House conference on hunger and nutrition.
The storm, which is close to Category 5 status, is expected to make landfall Florida on Wednesday morning or early afternoon.
Biden said the price of oil has stayed relatively low and it kept going down, and the price of gas should be going down as well.
He said only about 190,000 barrels a day are being impacted by the storm, or less than 2% of the US daily production.
“This small temporary storm impact on oil production provides no excuse. No excuse of price increases at the pump. None. If gas companies try to use this storm to raise prices … I will ask officials (to) look into whether price gouging is going on,” he said.
“The industry should do the right thing. Manufacturers should move more quickly now to bring down the price of the pump because gasoline is down,” Biden added.
As Hurricane Ian is set to make landfall in Florida, US flights have been impacted as well, with over 2,000 flights – mostly in Orlando, Miami, and Tampa – canceled, according to flight tracking site FlightAware.