The White House has asked energy companies to help lower fuel prices amid a worldwide rise in energy costs, Reuters reported on Wednesday.
Oil and gas companies have spoken with the White House in the preceding days regarding the request, two sources familiar with the matter told Reuters. One of those sources said the Biden administration has been internally discussing ways to lower fuel costs.
“We are closely monitoring the cost of oil and the cost of gas Americans are paying at the pump,” a White House official said in a comment. “And we are using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets.”
However, White House press secretary Jen Psaki said she was “not aware” of reported discussions between energy companies and the White House.
“I’m actually not aware of any contact with oil and gas companies around this particular issue,” Psaki told reporters at a White House press briefing.
The report comes after U.S. oil prices rose above $80 a barrel for the first time in seven years on Monday. The average gas price in the U.S. is currently $3.29 per gallon, according to AAA.
In an effort to counter rising fuel costs this summer, the Biden administration asked OPEC+ nations to increase production. That request was rejected. The administration had previously implemented policies to curtail some domestic production, including a ban on new oil and gas drilling leases on federal lands and the cancelation of the Keystone XL pipeline.