other thing that we see that cut today. the other thing to that we see that cut today. the other thing to note is that when oil prices were surging, at one point we had them at $139 per barrel of brent, but the price at the pump hasn t come down as we have seen elsewhere. come down as we have seen elsewhere- come down as we have seen elsewhere. what we need to think about elsewhere. what we need to think about whether - elsewhere. what we need to | think about whether logistics industries is that we are working on very, very tight margins, as little as 1%, so this can make significant impact on logistics. we have seen over the last two years logistics is touching everybody s lives, every business, every community. it will be really important if we can have that cut today. to what extent are those in logistics having to pass the cost on? surely that has to happen if it hasn t yes, as i say, working on such low
today president biden announced that the united states, and five other countries, experience gasoline prices increases will release oil into the marketplace from their strategic reserves. the five countries joining president biden s efforts are the united kingdom, china, india, japan, and south korea. the price of gasoline in the wholesale market has fallen by about 10% over the last few weeks. but the price of the pump hasn t budged a penny. in other words, gas supply companies are paying less and making a lot more. they do not seem to be passing it on to consumers at the pump. instead, companies are pocketing the difference as pac. that is unacceptable. that is why high of asked the federal trade commission to consider whether potentially illegal ally competitive behavior in the oil and gas industry is causing higher prices for consumers. joining us now is democratic
swing voters showed that they do not pay close attention to what president biden and the democrats in washington are accomplishing, and they do not think the president is seriously fighting inflation. in an attempt to stop the rising price of gasoline, or at least appear to be trying to, today president biden announced that the united states and five other countries experiencing gasoline price increases will release oil into the marketplace from their strategic reserves. the five countries joining president biden s effort are the united kingdom, china, india, japan, and south korea. . the price of gasoline in the wholesale market has fallen by about 10% over the last few weeks. be the price at the pump hasn t budged a penny. in other words, gas supply companies are paying less and making a lot more. they do not seem to be passing that on to the consumers at the pump. instead, companies are pocketing the difference as profit. that s unacceptable.
gas prices overnight, it will make a difference. it will take time, but before long, you should see the price of gas drop where you fill up your tank. in the longer term, we will reduce our reliance on oil as we shift to clean energy. but right now i will do what needs to be done to reduce the price you pay at the pump. from the middle class and working families that are spending much too much and it s a strain, and you re the reason i was sent here, to look out for you. there is another issue we ll be addressing as well. because the fact is the price of oil was already dropping prior to this announcement and many suggested anticipation of the announcement. the price of gasoline has fallen about 10% over the last few weeks, but the price at the pump hasn t budged a penny. in other words, gas supply companies are paying less and making a lot more. they do not seem to be passing that on to the consumers at the
it will take time, but before long, you should see the price of gas drop where you fill up your tank and in the longer term, we will reduce our reliance on oil as we shift to clean energy. but right now, i will do what needs to be done to reduce the price you pay at the pump from the middle class and working families that are spending much too much and it s a strain, and you re the reason i was sent here to look out for you. there s another issue we ll be addressing as well, because the fact is the price of oil was already dropping prior to this announcement and many suggested in anticipation of the announcement. the price of gasoline in the wholesale market has fallen by about 10% over the last few weeks. but the price at the pump hasn t budged a penny. in other words, gas supply companies are paying less and making a lot more. they do not seem to be passing