JACKSONVILLE, Fla. – President Biden is calling on companies to drop the price of gas as oil prices continue to tumble.
Gas prices dropped by another cent Wednesday.
- The new national average $4.30
- Florida remains higher at $4.31
- Georgia consistently lower at $4.26.
News4Jax Consumer Investigator Lauren Verno found gas under $4 in our area at the Circle K off Beach Boulevard on the Southside. The surrounding gas stations were priced at $4.09 a gallon and ten minutes up the road, $4.29-$4.30.
Driver Natalia Latona saw the $3.99 gas price and said, “I was shocked. I was like there’s no way it’s under 4.”
It’s hard to believe we are at a point where people are excited to pay $3.99 to fill up. We asked driver Conner Bearss how much he had been paying. “I paid $4.30 for it, went down to Tampa and paid $4.50 for it not to long ago.”
A month ago, we were at $3.50 a gallon.
“I’m just going to buy a bicycle at some point because I don’t have money for this,” Latona said.
Prices are going down, but only a penny or two a day. Despite oil prices dropping 30% in a week.
In Washington on Wednesday, Democrat Senator Chuck Schumer said, “In the coming weeks, I expect that Congress will be calling on CEOs from the oil and gas companies to testify on the alarming spike in energy prices.”
Oil prices are decreasing, gas prices should too.— President Biden (@POTUS) March 16, 2022
Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it’s $4.31.
Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans. pic.twitter.com/uLNGleWBly
After taking a hit in 2020, gas companies recovered significantly in 2021.
ExxonMobile made $23 billion, Shell $19.3 billion, Chevron $15.6 billion and BP $12.9 billion.
Gas price experts say prices could drop by 35-55 cents over the next 3-5 weeks if oil prices stay at this level.