President Joe Biden’s top economic advisor said Thursday the White House will “make sure gas prices remain affordable” when asked whether the administration would consider tapping the Strategic Petroleum Reserve.
“There are of course things that have been done in the past and we’ll continue to very closely monitor, make sure that gas prices remain affordable for so many American families going into the summer driving season,” National Economic Advisor Lael Brainard said at Semafor’s World Economy Summit.
Gasoline futures have risen nearly 29% this year with prices at the pump currently averaging $3.67 a gallon, according to the motorist association AAA. U.S. crude oil has gained 15% year to date on stronger demand, tighter supplies due to OPEC+ production cuts and mounting geopolitical risks in the MidEast and Eastern Europe.
“We’re highly attentive to the international oil markets and domestic gas prices. We’ll continue to monitor closely and want …