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Washington launched a 'war' on North American oil: Billionaire supermarket owner
Billionaire supermarket owner slams Biden’s energy policies: ‘War by Washington on North American oil’
United Refining Chairman and CEO John Catsimatidis argues inflation ‘all starts with oil.’
United Refining Chairman and CEO John Catsimatidis, who is also the billionaire owner and CEO of New York City supermarket chain Gristedes, argued on Monday that "there is a war by Washington on North American oil."
Catsimatidis made the argument on "Cavuto: Coast to Coast" as the national average gas price has been hitting record highs and is expected to continue rising amid the energy supply crunch in the U.S.
The average price for a gallon of gasoline in the U.S. rose to a new record of $4.48, Monday, according to AAA. The price on Sunday was $4.47.
Monday’s average was 15 cents higher than the week before, 40 cents higher than the month before, and $1.43 higher compared to the same time last year.
On Wednesday it was revealed that inflation cooled on an annual basis for the first time in months in April, but rose more than expected as supply chain constraints, the Russian war in Ukraine, and strong consumer demand continued to keep consumer prices running near a 40-year-high.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in April from a year ago, below the 8.5% year-over-year surge recorded in March. Prices jumped 0.3% in the one-month period from March.