President Biden called gas stations to gouging prices and told them to cut prices now.
At the White House, the president said: The message is simple, for companies that run gas stations and send those prices to the pumps, they cut prices to reflect the cost they’re paying for the product. Do it now. Not a month from now, do it now. He will tell people a lot of money. “
President Biden was right. There is still a lot of price gouging and profit taking in the economy as companies use inflation as an excuse to increase prices, whether or not that price increase is justified.
What would be better than the president putting pressure on gas station owners is for federal authorities and regulators to start investigating price gouging.
Everyone knows that price gouging happens and won’t stop until there are consequences for gratuitous profiteering.
President Biden’s comments should be seen as a warning that consequences should follow.
Mr. Easley is Managing Editor. He is also a White House news reporter and congressional correspondent for PoliticusUSA. Jason holds a BA in Political Science. His graduating work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Association of Professional Journalists and the American Political Science Association