The price of gasoline in the United States rose to a new record high on Saturday. On average, a gallon (3.8 liters) costs more than 5 dollars (4.75 euros) for the first time. Converted, this is a price of about 1.25 euros per liter of petrol. Also in Belgium, the maximum price for petrol is 95 (E10) on Saturday with 1.7 cents to a new absolute record climbed to 2,155 euros per litre. This is reported by the FPS Economy.
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The rising fuel price is one of the causes of high inflation. It was 8.6 percent in the United States last month. Fighting inflation is the top domestic priority for US President Joe Biden’s administration.
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“Exxon deserved more than God”
Biden is angry about prices at the pump. During an event in the port of Los Angeles, he opened the attack on oil company ExxonMobil on Friday. “Exxon made more money than God did last year,” said Biden, calling on the company to spend less on buying its own stock and invest more in ramping up oil production.
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A higher oil production should ensure that the price at the pump goes down. The US is already making good progress, says Biden, who predicts record production for next year. The president says he is in talks with the sector to accelerate production. At the same time, the oil and gas sector should not try to take advantage of the war in Ukraine by “making excessive profits and unnecessarily raising prices”.
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Alexander De Croo triumphs at European summit: Commission will examine price ceiling for gas prices
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Long queues at gas stations due to increase in petrol price
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