Senate Republicans are calling upon the Biden Administration to ramp up domestic oil production as gasoline prices continue to spike. According to AAA, the national average is $4.56 for a gallon of regular gasoline. In Alaska, the statewide average is $5.12. The higher gasoline prices are being blamed for the skyrocketing cost of crude oil, which sits around $110/barrel.
A press conference that was held on Wednesday was led by Sen. Lisa Murkowski, who says the high prices can’t be fully blamed on the war in Ukraine:
Unleash American energy. Senate Republicans discuss at 12pm ET. https://t.co/1bRLxQs0ZL
— Senate Republicans (@SenateGOP) May 18, 2022
The response from the Biden Administration is that the oil companies are leaving thousands of approved permits go unused. For example, the U.S. Department of the Interior announced that it ‘will not move forward’ with a planned oil and gas lease sale in the Cook Inlet of Alaska after the Biden Administration said that the industry had no interest in leasing in the basin.
In advance of the Memorial Day weekend, the prices at the pump will like increase even more.
