White House 'carefully monitoring' gasoline prices to make sure they're affordable, Biden aide says

By Robert Schroeder

The average price for regular unleaded is now at $3.674 a gallon, up nearly 21 cents from a month ago

The Biden administration is "carefully monitoring" gasoline prices to ensure their affordability for Americans, a top White House economist said Thursday, as prices have climbed compared to a month ago.

"There are things that have been done in the past and we'll continue to very closely monitor and make sure that gas prices remain affordable," White House National Economic Adviser Lael Brainard said at an event in Washington sponsored by Semafor.

Brainard was asked about a potential release of oil from the U.S. Strategic Petroleum Reserve (SPR), but did not directly address the question.

"Carefully monitoring," she said, when asked if nothing is off the table.

The average price for regular unleaded stood at $3.674 a gallon on Thursday, up nearly 21 cents from a month ago, according to AAA.

Earlier this week, White House senior adviser John Podesta acknowledged SPR oil sales by the White House in the wake of Russia's invasion of Ukraine, but did not say whether there would be another such release any time soon, Reuters reported.

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Myra P. Saefong contributed

-Robert Schroeder

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04-18-24 1316ET

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