'Big Oil' CEOs set to testify before Congress amid skyrocketing gas prices

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"There's too many political games being played in too many political points trying to be won. Neither side is portraying it accurately," he said."There's a lot of factors that go into this and the politicians on both sides of the aisle are, you know, just using buzzwords and phrases and they're using regurgitated, establishment talking points by their own parties ...

Instead, he said the"stations are essentially smoothing out the incredible volatility and they're cautiously passing along decreases once they are kind of certain that they're not going to have to raise prices again.

ABC News reached out to all six oil companies expected to testify Wednesday but none provided a comment. Most recently, Biden announced the release of 1 million barrels of oil per day from oil reserves to combat high gas prices; though, senior White House administration officials couldn't say how quickly Americans will start to feel relief from it.

Source: News Formal (newsformal.com)

That gas is $1 a gallon higher than hereabouts. Why so high?

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