Biden pledges to limit US spike in gas prices in response to Russian aggression

President Biden said as the US responds to Russian attack on Ukraine, he will try “to limit the pain the American people are feeling at the gas pump” as well.

“As we respond, my administration is using … every tool at [our] disposal to protect American families and businesses from rising prices at the gas pump. We’re taking active steps to bring down the cost, and American oil and gas companies should not — should not — exploit this moment to hike their respect prices to raise profits,” he said.
Biden said officials are monitoring energy supplies for disruptions.

“We’ve been coordinating with major oil-producing and consuming countries toward our common interest to secure global energy supplies. We are actively working with countries around the world to elevate collective release from the strategic petroleum reserves for major energy-consuming countries,” he said. “And the United States will release additional barrels of oil as conditions warrant.”

Biden said he knows that gas prices have already been rising in the US.

“I know this is hard and that Americans are already hurting. I will do everything in my power to limit the pain the American people are feeling at the gas pump. This is critical to me. But this aggression cannot go unanswered. If it did, the consequences for America would be much worse. America stands up to bullies. We stand up for freedom. This is who we are,” he said.