November 2, 2024
The White House is distancing itself from rising gas prices after taking credit for them falling over the summer.

The White House is distancing itself from rising gas prices after taking credit for them falling over the summer.

Instead, White House press secretary Karine Jean-Pierre cited “global challenges,” including the coronavirus pandemic and Russian President Vladimir Putin’s invasion of Ukraine.

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“It’s a lot more nuanced than that, right?” Jean-Pierre told reporters Tuesday. “We understand there’s more work to do. We never said we’re done here.”

Jean-Pierre declined to comment on reports that oil cartel OPEC+ is considering cutting production by a million barrels a day, repeating that President Joe Biden’s Middle East trip last summer “was not about oil.”

“It was about America’s position in the Middle East and consultation with 12 leaders from across the region on a range of issues,” she said.

Jean-Pierre added Biden is not preparing to supply more Strategic Petroleum Reserve oil after the last daily release of a million barrels ends on Nov. 30.

Representatives of OPEC’s 13 member countries and nonproducer partners, a group known as OPEC+, are convening in Vienna, Austria, on Wednesday to discuss production policy, a development that caused oil prices to trend up.

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The White House attributed gas prices decreasing from June’s national average record of $5 to Biden’s responses, such as ethanol blend regulation relaxation. The national average cost per gallon on Tuesday was $3.80, according to AAA.

September’s consumer price index is expected to be published next week.

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