Bottom lineHigh gas prices are one of the most frustrating phenomena for any White House because they affect almost every American but are mostly immune from presidential action. US gas prices have surged to a seven-year high of $3.40 a gallon nationally and are flirting with $4 in Nevada, Washington and Oregon. "There are limitations to what any President can do, as it relates to gas prices," press secretary Jen Psaki said on October 22. The administration has already taken some small steps to control gas prices, including the Federal Trade Commission saying it would investigate potential price gouging. The White House responded almost immediately, accusing OPEC of placing the "global recovery for countries around the world" in jeopardy.

Source: CNN November 10, 2021 05:45 UTC