Joe Biden vows to shield Americans from gas price spike. That won't be easy
CNN
President Joe Biden, facing the risk of a destabilizing energy price shock, is promising to blunt the impact of rising energy prices on American families. But that won't be easy.
The Russia-Ukraine crisis has already helped lift oil and gasoline prices to levels unseen since 2014. Further sanctions on Moscow could drive pump prices closer to $4 a gallon.
Biden is bracing the public for just that, acknowledging on Tuesday that "defending freedom will have costs."
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.