Six oil company executives are set to testify today on Capitol Hill about skyrocketing gas prices amid a political messaging battle over pain at the pump.
Though the price of gas has dropped slightly in recent days, Americans were still paying an average $4.17 as of Tuesday, according to American Automobile Association data.Politicians on both sides of the aisle continue to fight over who's to blame.
Patrick De Haan, head of Petroleum Analysis at GasBuddy, told ABC News the reasons behind the cost of gas are more complex than any one of those narratives suggests. "Stations are not eager to lower prices right now. Not necessarily because of, you know, they're greedy or something but because the market is extremely volatile," De Haan said, adding that"if they were to pass along a decrease one day, they may have to raise prices another 25 to 50 cents the day after if the market goes back up."
Richard Wiles, president of the Center for Climate Integrity, a nonprofit focused on climate policy and holding corporations accountable, says Democrats aren't wrong to shift the blame onto Russian President Vladimir Putin. As the oil company executives face members of the House, lawmakers are also scrambling to pass legislation to provide immediate relief as a consequential midterm season quickly approaches.
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