'Ouch. Inflation is far too important a problem...': Bezos slams Biden's appeal for lower gasoline prices

World third-richest person Jeff Bezos slammed United States President Joe Biden for calling on companies running gasoline stations to lower their prices. Bezos' latest remarks have, in a way, renewed his spat with the White House.

Taking to his official Twitter handle, the Amazon founder wrote: "Ouch. Inflation is far too important a problem for the White House to keep making statements like this."

Add WION as a Preferred Source

"It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics," he added.

What did Biden say?

On Saturday, Biden tweeted: "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."

Biden added, "Bring down the price you are charging at the pump to reflect the cost you're paying for the product. And do it now."

In response to Bezos' comments, the White House came to the US leader's defence on Sunday. White House Press Secretary Karine Jean-Pierre said on Twitter that oil prices have dropped about $15 a barrel over the past month. "But prices at the pump have barely come down. That's not 'basic market dynamics.' It's a market that is failing the American consumer," she wrote.

White House spokesman on national security issues, John Kirby, also defended the president. In an appearance on Fox News, he said, "The president is working very, very hard across many fronts... to try to bring that price down.

Citing Biden's proposal to suspend the federal gas tax this summer and his decision to tap the US strategic oil reserves to put more product on the market, Kirby said, "He knows that it is not going to solve all the problems, but it will help if everybody cooperates on this. We could bring the price down at least by about one dollar a gallon.

Gasoline prices in US

Gasoline prices have been above $5 a gallon since early June. Notably, the prices have fallen slightly since, but remain far from the $3 a gallon level of a year ago.

Biden has regularly attacked oil companies for the high prices as he says that these companies care only about profits.

On the other hand, thecompanies say in turn they have increased production in order to reduce prices. But they also say that the prices are set on the world market.

(With inputs from agencies)

WATCH WION LIVE HERE

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.