Biden Says Lower Gas Prices Are Coming

The transcript discusses efforts to ease price pressures, focusing on the release of oil from the U.S. Strategic Petroleum Reserve and international cooperation to reduce gas prices. It highlights the impact of these actions on wholesale gas prices and the role of the Federal Trade Commission in ensuring fair consumer prices.

What action did the speaker take to address gasoline and gas prices?

• Released oil from the Strategic Petroleum Reserve

• Implemented new environmental regulations

• Increased taxes on oil companies

• Reduced oil imports

Which countries joined the speaker in releasing additional oil from their reserves?

• Brazil and Mexico

• India and Japan

• Germany and France

• Australia and Canada

What has been the impact on oil and gas prices on the wholesale market since the end of October?

• Prices have increased significantly

• Prices have fluctuated unpredictably

• Prices have remained stable

• Prices have decreased significantly

What is the role of the Federal Trade Commission in relation to gas prices?

• To regulate oil production levels

• To set gas prices nationwide

• To investigate potential illegal and anticompetitive behavior

• To provide subsidies to oil companies

How much has the average weekly price of gasoline on the wholesale market fallen?

• Around 5%

• Around 10%

• Around 15%

• Around 20%