'Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery,' said National Security Adviser Jake Sullivan.
's administration asked the Federal Trade Commission about looking into"illegal conduct" that prompted gas prices to increase once again.
Gas prices continued to increase all summer throughout the nation as Americans began their summer road trips. In mid-July, the average price for a gallon of regular gasoline was $3.16 while drivers from just a year ago were paying $2.19 per gallon.For more reporting from the Associated Press, see below.
The joint actions Wednesday come as the Biden administration is increasingly sensitive to rising prices across the economy as it faces both political and policy pressure from inflation. Wednesday's report from the Labor Department showed that consumer prices jumped 0.5 percent from June to July, down from the previous monthly increase of 0.9 percent. They have increased a substantial 5.4 percent compared with a year earlier, erasing much of the benefit to workers from higher pay.
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