December 2, 2022

Taylor Daily Press

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Gasoline prices hit a new record in the United States, but the price of a liter is much lower than in the Netherlands: ‘Exxon made more money than God’

Gasoline prices in the United States hit new highs on Saturday. On average, a gallon (3.8 liters) costs more than $ 5 (4.75 euros) for the first time. If converted, it would cost about 1.25 euros a liter of petrol.

Rising fuel prices are one reason for high inflation. It was 8.6 percent in the United States last month. Fighting inflation is one of the top domestic priorities of US President Joe Biden’s administration.

Biden is angry about the prices at the pump. He unveiled the attack on oil company ExxonMobil on Friday during an event in Los Angeles harbor. “Exxon made more money than God did last year,” Biden said, calling on the company to spend less to buy its own shares and invest more to increase oil production.

Excessive profit

The higher the oil production pump the lower the price must be ensured. The United States is already making good progress, says Biden, who predicts record production next year.

The president says he is in talks with the department to speed up production. At the same time, the oil and gas sector should not try to use the war in Ukraine to “make more profit and raise prices unnecessarily.”

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