President Joe Biden sent a letter to multiple oil companies on Wednesday, urging them to increase production and cut profits as gas prices continue to soar in the United States.
The letter comes days after the national average price of gasoline hit $5 per gallon. Prices were $2.39 per gallon when President Joe Biden entered the Oval Office at the beginning of last year — contributing to overall inflation, which reached 8.6% for consumers and 10.8% for businesses as of last month.
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