The White House says Americans should expect higher energy prices as a result of Russian President Vladimir Putin’s invasion of Ukraine and sanctions levied against Moscow.
Asked Tuesday whether Americans “should expect higher gasoline prices,” White House press secretary Jen Psaki said, “Yeah, energy prices, exactly.”
“That’s what we want the American public to be aware is a possibility,” she added.
Speaking from the White House on Tuesday, deputy national security adviser for International Economics Daleep Singh expressed optimism that gasoline prices will decline over time.
“There are actions [energy consuming nations] can take with their strategic reserves, there are actions energy producers can take in terms of their spare capacity,” Singh told reporters. “I’m not going to give you a timeline, but the collective power of those actions, and all the other tools and authorities at our disposal … will be effective in bringing down the price of gas and the price of oil.”
President Biden on Tuesday announced new sanctions against Russia, pointing to “the beginning of a Russian invasion of Ukraine.” He authorized additional U.S. forces to the region but maintained that the United States has “no intention” of fighting Russia.
