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6/22, 8:13 PM (Source: TeleTrader)
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Biden calls on Congress to cancel federal gas tax for 3 months

United States President Joe Biden called Congress on Wednesday to suspend the federal gas tax for "the next 90 days."

During his televised speech on gas prices and Putin's price hike, Biden said that the collaboration of the companies was also necessary to reduce the cost of fuel amid the crisis caused by the war in Ukraine. In this regard, he called on the industry to refine more oil into gasoline, thus lowering its price.

Finally, he also expressed his desire for oil companies to use their profits to increase refining capacity instead of buying back shares.

Baha Breaking News (BBN) / JG