“Oil prices are decreasing, gas prices should too,” Biden said on Twitter. “Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it’s $4.31. Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans.”
The administration’s focus on the intricacies of energy prices shows the level of frustration inside the White House with one of the central drivers of high inflation.
‘It just seems to take a long time’
This is nothing new. The industry even has a nickname for this practice: Rockets and feathers.
“This has been going on for 40 years,” Andy Lipow, president of consulting…