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Gas: President calls on oil companies to increase gas production

President Joe Biden plans to release one million barrels of oil everyday for six months in an effort to offset gas prices.

oil prices rising increasing the cost of gas

In addition he has asked that oil companies work to boost production.

Gas prices have only continued to increase and are expected to continue to rise with the Russian invasion of Ukraine.


Could millions see $250 rebate check to go toward rising gas prices?

What do fuel prices look like right now?

Gas prices have dropped 8 cents over the last week.

While this is a good sign, prices are still $1.30 higher than they were at this time last year.

Both the pandemic and Russia and Ukraine war have negatively impacted the production of oil.


Will a gas tax suspension happen?

President Biden is signing an order that would release barrels of oil from strategic reserves to help with the burden Americans are facing.

While Biden is calling on oil companies to increase production, companies are saying they need more permits.

They say they aren’t currently equipped to handle increased production.

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