Joe Biden Usa Washington state Pennsylvania Russia Philadelphia, state Pennsylvania Ukraine city Philadelphia, state Pennsylvania president pandemic Government Joe Biden Usa Washington state Pennsylvania Russia Philadelphia, state Pennsylvania Ukraine city Philadelphia, state Pennsylvania

Biden tells oil refiners: Produce more gas and diesel, fewer profits

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PHILADELPHIA, PA - JUNE 14: U.S. President Joe Biden delivers remarks at the 29th AFL-CIO Quadrennial Constitutional Convention on June 14, 2022, in Philadelphia, Pennsylvania. (Photo by Hannah Beier/Getty Images) WASHINGTON - President Joe Biden on Wednesday called on U.S.

oil refiners to produce more gasoline and diesel, saying their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record-high prices at the pump."The crunch that families are facing deserves immediate action," Biden wrote in the draft of a letter to oil refiners obtained by The Associated Press. "Your companies need to work with my Administration to bring forward concrete, near-term solutions that address the crisis."Gas prices nationwide are averaging roughly $5 a gallon, an economic burden for many Americans and a political threat for the president's fellow Democrats going into the midterm elections.

Broader inflation began to rise last year as the U.S. economy recovered from the coronavirus pandemic, but it accelerated in recent months as energy and food prices climbed after Russia invaded Ukraine in February and disrupted global commodity markets.The government reported on Friday that consumer prices had jumped 8.6% from a year ago, the worst increase in more than 40 years.The draft letter notes that gas prices were averaging $4.25 a gallon when oil was last near the current price of $120 a barrel in March.

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