Oil majors ‘pocketing the difference’ as gas prices surge: Biden

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AFP

Washington (AFP) – Oil majors have raised gasoline prices for the sake of their own profits, US President Joe Biden said Tuesday as his administration looked for ways to lower prices at pumps nationwide at the beginning of the holiday travel season. The White House has upped the pressure on oil markets amid a spike in energy prices that has driven overall US inflation to record levels. Biden had earlier in the day announced the United States would release crude from its national stockpile along with China, India, Japan, Korea and Britain in a bid to drive global prices lower, while again takin…

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