Political Hedge

Big Oil profits aren't driving gas prices, experts say, despite Biden's 'price gouging' accusations

Big Oil has been the go-to boogeyman for President Biden and Democrats over alleged “price gouging,” with “Putin’s price hike” a close runner-up. But profits made by the oil industry — while at record levels — ebb and flow with global energy markets, not because the firms are manipulating costs, according to market analysts.

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