US To Focus on Lower Gas Pump Prices Amid OPEC Cuts

The US government is currently focusing on bringing gas pump prices down as US gasoline prices bounced higher in August, White House national security adviser Jake Sullivan said.

• "The most important thing that the President is focused on is just trying to do everything within his toolkit to be able to get lower prices for consumers at the gas pump in the US," Sullivan said. Keeping US retail prices from rising too much is the only metric of success of Biden's policy, rather than "which country is doing what, here or there," Sullivan said.
• US gasoline pump prices have reached the highest seasonal level in more than a decade at the Labor Day Holiday end to the summer driving season. The national average for regular gasoline is up at the second-highest level in records – going back to 1994 – at 3.811$/gal according to AAA data.
• Average US gasoline prices bounced higher in August, reaching a high for the year of $3.87/USG for the week ended 21 August, EIA data show.
• Saudi Arabia said it will extend the 1mbpd cut in production, first implemented in July and later extended to August-September, by another three months, through the end of 2023. Russia separately said it would extend its 300kbpd cut to crude exports until year-end.