{"id":66406,"date":"2022-06-01T23:47:00","date_gmt":"2022-06-01T19:47:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=66406"},"modified":"2022-06-02T00:23:38","modified_gmt":"2022-06-01T20:23:38","slug":"biden-cannot-instantly-reduce-gasoline-cost","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/biden-cannot-instantly-reduce-gasoline-cost\/06\/01\/market-updates\/","title":{"rendered":"Biden: Cannot instantly reduce gasoline cost"},"content":{"rendered":"\n<p>US President Joe Biden is focused on knocking down sky-high fuel prices, but he has a limited influence to do that and the US President said he cannot take immediate action to bring them down. <br><br>The oil markets were paying attention to Biden&#8217;s plans in March when he announced a record-setting release of 180 million barrels of oil from the SPR following the disruptions caused by Russia&#8217;s invasion of Ukraine. However, the relief proved to be temporary and the price of oil is back on the rise:<br><br>Biden\u2019s officials have been openly pleading with Big Oil to pump more despite his campaign efforts to address climate change. Yet, Biden has been draining oil from the SPR at a record pace, urging US oil and gas companies to pump more oil and trying to persuade OPEC to add supply.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US President Joe Biden is focused on knocking down sky-high fuel prices, but he has a limited influence to do that and the US President said he cannot take immediate action to bring them down. The oil markets were paying attention to Biden&#8217;s plans in March when he announced a record-setting release of 180 million &hellip;<\/p>\n","protected":false},"author":13,"featured_media":46216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7214,7156,7431,7004,9465],"class_list":["post-66406","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-biden","tag-brent","tag-gasoline","tag-opec-2","tag-spr"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=66406"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66406\/revisions"}],"predecessor-version":[{"id":66410,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66406\/revisions\/66410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/46216"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=66406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=66406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=66406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}