US Energy Secretary Jennifer Granholm said today, Sunday, that the administration of President Joe Biden hopes that gas prices will continue to decline, but she indicated that there are some factors that are beyond the control of the US administration, and that it fears an increase in demand from China; This will raise its prices, according to a report published by the American newspaper, Politico, on Sunday.
Granholm said, “If China opens up significantly after ending the closure that it imposed to confront the Corona pandemic, then there will be more pressure on demand for gas, which means higher prices, and we are watching what is happening in the world arena, and we are doing our best to try to stabilize supply and demand, to keep prices low.
She added, in statements to “Fox News Sunday”, that US President Joe Biden has taken important steps to increase America’s supply of gasoline, adding, “The president moved in dramatic ways to increase the supply of gasoline, by releasing one million barrels per day from the reserve, as well as inviting local producers And internationals to increase production, and we will be at record levels of production next year.”
The report indicated that rising gas prices have increased inflation in the USA for several months, but it has been declining in recent weeks, as average gasoline prices have fallen to less than $4 a gallon.
And the US Secretary of Energy says she expects prices to continue to fall, pointing to the benefits provided by the new US law to reduce inflation, adding that new incentives for electric cars will help people buy them, and will help encourage the manufacture of electric cars in the United States.
“President Biden we need to make things in the United States, and we can’t rely on countries that don’t share our values,” she said.