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Congress Grills Gas CEOs About High Prices At The Pump

Congress Grills Gas CEOs About High Prices At The Pump

Newsy
Thursday, April 07, 2022 03:09:28 AM UTC

House Democrats said a supply and demand problem wasn't a good enough explanation and pointed to companies rewarding shareholders and CEOs.

At a Congressional hearing Wednesday, oil company CEOs were on the hot seat.

"Some of our witnesses today have stated publicly that their focus is not on helping American families or on fueling America's economy. It's enriching their shareholders," said Rep. Diana DeGette.  

House Democrats grilled the company heads on why gasoline prices remain high, even though prices have dropped for crude oil. Crude makes up at least half the price of what consumers pay at the pump. 

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