The average price for a normal gallon Gasoline slipped again on Monday remaining below the $ 5 threshold for a third day. Gas reached $ 5 a gallon more than a week ago. The price fell by a fraction to $ 4,981, according to the AAA. The price on Sunday fell below the $ 5 limit to $ 4,983. Diesel gradually fell to $ 5,815, from $ 5,816 on Sunday. GET FOX BUSINESS IN ENGINE BY CLICKING HERE Oil prices fell about 6 percent to a four-week low on Friday amid concerns that demand will decline as central bank interest rate hikes slow the economy. The price of US West Texas Intermediate (WTI) crude oil was $ 109.85, up 29 cents or 0.3%. EXXONMOBIL REVERSES AFTER BIDEN THREATENS ENERGY PRODUCERS A customer holding $ 20 bills pumps gas at a Phillips 66 gas station in Centennial, Colorado. (REUTERS / Rick Wilking / Reuters Photos) President Biden has faced a flood of criticism lately for lack of executive action aimed at curbing inflation. As for higher gas prices, the president turned his attention to blaming Russian President Vladimir Putin for his invasion of Ukraine and the oil company’s motives for profit. ExxonMobil countered Biden by threatening them with “emergency powers” if they did not step up supply to curb rising gas prices. Gas prices show up at an Exxon Mobil gas station sign on June 9, 2022 in Houston, Texas. (Brandon Bell / Getty Images / Getty Images) WHITE HOUSE IS CONSIDERING TO SEND GAS DISCOUNT CARD TO AMERICA: REPORT In a statement issued on Wednesday from the company, ExxonMobil said it was in regular contact with management by providing information on how it has invested “more than any other company in developing US oil and gas supplies”. FOR THE FIRST TIME IN OVER 2 DECADES GAS PRICES HAVE MADE 5 DOLLARS The White House is reportedly floating the idea of gas rebates for U.S. residents because of record gas prices. CLICK HERE TO READ MORE ABOUT FOX BUSINESS ONE White House official told FOX Business that the administration has not ruled out the distribution of gas discount cards. The cards are supposed to subsidize the price of gas for Americans – many of whom are struggling to make ends meet with fuel now priced at the level of a luxury good. Fox Business Bradford Betz, Edward Lawrence and Timothy Nerozzi contributed to this report.
