WASHINGTON, Sept 13 (Reuters) – The U.S. Energy Department has talked to oil producers and refiners to ensure stable fuel supplies at a time of rising gasoline prices, Jared Bernstein, head of the White House Council of Economic Advisers, said on Wednesday.
Rising gasoline prices were largely behind the largest increase in U.S. consumer prices in 14 months in August.
“The Energy Department is in touch with producers and refiners to resolve any issues and to try to ensure stable supply,” Bernstein told reporters on Wednesday.
WASHINGTON, Sept 13 (Reuters) – The U.S. Energy Department has talked to oil producers and refiners to ensure stable fuel supplies at a time of rising gasoline prices, Jared Bernstein, head of the White House Council of Economic Advisers, said on Wednesday.
Rising gasoline prices were largely behind the largest increase in U.S. consumer prices in 14 months in August.
“The Energy Department is in touch with producers and refiners to resolve any issues and to try to ensure stable supply,” Bernstein told reporters on Wednesday.
Gasoline prices jumped 10.6% in August after climbing 0.2% in July, accounting for more than half the increase in the Consumer Price Index.
They peaked at $3.984 per gallon in the third week of August, according to data from the U.S. Energy Information Administration, up from $3.676 per gallon during the same period in July.
Gasoline prices are expected to rise further in some regions during US refinery maintenance this autumn, especially given the additional impact of Saudi Arabia’s extended production cuts on crude oil prices.
Gasoline prices jumped 10.6% in August after climbing 0.2% in July, accounting for more than half the increase in the Consumer Price Index.
They peaked at $3.984 per gallon in the third week of August, according to data from the U.S. Energy Information Administration, up from $3.676 per gallon during the same period in July.
Gasoline prices are expected to rise further in some regions during US refinery maintenance this autumn, especially given the additional impact of Saudi Arabia’s extended production cuts on crude oil prices.
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