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Jeff Bezos slams Biden's call to companies to cut gas prices; here's what others said

Jeff Bezos slams Biden's call to companies to cut gas prices; here's what others said

Jeff Bezos slams Biden's call to companies to cut gas prices; here's what others said
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By CNBCTV18.com Jul 4, 2022 10:30:13 AM IST (Published)

US President Joe Biden has asked companies running gas stations to bring down costs in the wake of the Russia-Ukraine war. According to the Biden administration, the rise in gas prices is a direct outcome of the Russia-Ukraine war.

US President Joe Biden's call to companies ‘running gas stations’ to bring down the prices has drawn severe criticism. Among the most prominent voices opposing Biden's call was that of Amazon founder Jeff Bezos.

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“My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now," Biden tweeted.
Reacting to Biden's message, Bezos tweeted,  “Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics."
Jeff Bezos and Joe Biden spar over ways to fight 40-year high inflation
 Besides Bezos, Texas Senator Ted Cruz also slammed Biden's move saying, “My message to the guy running your teleprompter: It’s YOUR fault. Reverse the dozens of executive orders, regulations & agency actions targeting American energy, and gas prices will fall…FAST"
Other prominent American voices also weighed in on the issue of gas prices.
The furore comes in the wake of gas selling at $4.82 per gallon (national average on Saturday). In some states like California, the gas price crossed the $6 mark. According to the Biden administration, the rise in gas prices is a direct outcome of the Russia-Ukraine war, which is now in its fourth month. Last week, Biden told reporters that American drivers would have to endure high gas prices for “as long as it takes” for Ukraine to defeat Russia.
Meanwhile, Chinese state media has also trolled Biden for asking companies to bring down gas prices. Chen Weihua, EU Bureau Chief and columnist for China Daily, tweeted, “Now, US President finally realized that capitalism is all about exploitation. He didn’t believe this before.”
Following Russia's attack on Ukraine, countries in the West shunned Russian energy supplies, increasing fuel prices in several parts of the world.
 
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