Biden Presses OPEC to Produce More Oil as Gas Prices Rise

The National Economic Council has tasked the Federal Trade Commission with monitoring the U.S. gasoline market to address any illegal activities contributing to price hikes. Despite a decrease in oil barrel costs, the U.S. has urged OPEC to reverse pandemic-related production cuts to help lower consumer prices as the global economy recovers.

What is the purpose of monitoring the US gasoline market as mentioned in the text?

How does the text describe the relationship between the global economy and consumer prices?