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www.cnn.com
Biden demands faster drop in gas prices as oil tumbles
President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes.
I agree with Biden don't hd prices up for any longer than you can. Pass the savings on to the consumer.
And Biden didn't pass any of that.And the Federal Government continues to charge $0.24 cents tax on every gallon of diesel fuel sold, as well as $0.18 cents on every gallon of gasoline.
If Biden REALLY wants to take the wind out of inflation's sails, stop taking taxes on the sale of fuels.
And Biden didn't pass any of that.
Problem is the refineries have to get lower priced oil. They can not sell high priced oil at a reduced price or they lose money. Then they will lower their price. The gas station still has to pay for the fuel in their tanks or loose money. So they have to wait until the refinery lowers its price. Simple basic economics. Someone in Bidens administration should have paid attention in classBiden demands faster drop in gas prices as oil tumbles
President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes.
I agree with Biden don't hd prices up for any longer than you can. Pass the savings on to the consumer.
Problem with that is that the tax would have to be made up somewhere as the government is not going to voluntarily stop spending massive amounts of money no matter what they have to put on the government credit cardAnd the Federal Government continues to charge $0.24 cents tax on every gallon of diesel fuel sold, as well as $0.18 cents on every gallon of gasoline.
If Biden REALLY wants to take the wind out of inflation's sails, stop taking taxes on the sale of fuels.
