Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics. https://t.co/XgKfEICZpk
— Jeff Bezos (@JeffBezos) July 3, 2022
The back-and-forth comes as Americans have been paying higher gas prices amid Russia’s February invasion of Ukraine and inflation.
On Thursday, Biden told reporters that American vehicle owners will have to pay high gas prices for “as long as it takes” for the war to end.
Cost of filling up could rise even higher.
Gas prices could soar above their current near-record levels to “apocalyptic,” heights if hurricane season causes significant disruptions for US oil refiners, an industry expert warned last month.