Cathy Landry | 202.682.8122 | landryc@api.org
WASHINGTON, October 30, 2009 - American Petroleum Institute President Jack Gerard issued the following statement on retail gasoline prices, as reported by AAA, rising to the highest level of 2009:
“Today, AAA reported that yesterday’s nationwide retail gasoline prices climbed to a nationwide $2.695 per gallon average,the highest average price this year. Despite this sharp gasoline price increase, which has been driven by strong crude oil prices, the federal government has done little to help increase the supply of domestic crude oil, the basic feedstock of gasoline.
“It’s been more than a year since the U.S. Congress and former President Bush lifted the moratoria on leasing new parcels in federal waters off the coasts of the Atlantic and Pacific, yet this administration has slow pedaled efforts to set up a framework to allow leasing on this acreage, even though the majority of Americans support greater development of our domestic resources. Instead, a troubling pattern of delay has emerged when it comes to developing the nation’s federal resources – whether they are offshore in federal waters or onshore.
“Americans are already suffering because of the prolonged economic recession, and the recent gasoline price rise—which is being compounded by short-sighted government policies—is only furthering their difficulties. We urge the administration and Congress to take actions to increase domestic oil and natural gas supplies, which would add new U.S. jobs, provide much-needed revenues to federal, state and local governments and help ensure adequate supplies are available to generate the gasoline and diesel our nation needs.”
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NOTE: The 2009 daily retail gasoline high price, set October 29, was $2.695 per gallon; the previous high this year was $2.693 per gallon, set June 20.
Updated: October 30, 2009