{"id":500205,"date":"2022-06-23T09:28:04","date_gmt":"2022-06-23T03:58:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=500205"},"modified":"2022-06-23T09:45:45","modified_gmt":"2022-06-23T04:15:45","slug":"oil-slumps-6-a-barrel-as-biden-pushes-for-u-s-fuel-cost-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slumps-6-a-barrel-as-biden-pushes-for-u-s-fuel-cost-cuts\/","title":{"rendered":"Oil slumps $6 a barrel as Biden pushes for U.S. fuel cost cuts"},"content":{"rendered":"<p>(Reuters) -Oil prices skidded more than $6 a barrel on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on the country&#8217;s major energy firms to help ease the pain for drivers during peak summer consumption.<\/p>\n<p>By 0718 GMT, U.S. West Texas Intermediate (WTI) crude futures were off lows but still down $5.98, or 5.46%, at $103.54 a barrel. Similarly, Brent crude futures dropped $5.67, or 4.95%, to $108.98 a barrel. <\/p>\n<p>As the United States, the world&#8217;s largest oil consumer, struggles to tackle soaring gasoline prices and inflation, President Joe Biden is expected to call on Wednesday for temporarily suspending the 18.4-cents a gallon federal tax on gasoline, a source briefed on the plan told Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Oil prices skidded more than $6 a barrel on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on the country&#8217;s major energy firms to help ease the pain for drivers during peak summer consumption. By 0718 GMT, U.S. West Texas Intermediate (WTI) crude futures were off lows but still down $5.98, or 5.46%, at $103.54 a barrel. Similarly, Brent crude futures dropped $5.67, or 4.95%, to $108.98 a barrel. As the United States, the world&#8217;s largest oil consumer, struggles to tackle soaring gasoline prices and inflation, President Joe Biden is [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-500205","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/500205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=500205"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/500205\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=500205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=500205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=500205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}