President Joe Biden on Wednesday called on U.S. oil refiners to produce more gasoline and diesel, saying their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record high prices at the pump. “The crunch that families are facing deserves immediate action,” Biden wrote in a letter to seven oil refiners. The letter notes that gas prices were averaging $4.25 a gallon when oil was last near the current price of $120 a barrel in March. Biden is asking each company to explain to Granholm any drop in refining capacity since 2020, when the pandemic began. In the U.S., refining capacity fell by more than 800,000 barrels a day in 2020.
