Amid rising gas prices, the Biden administration said it will call on OPEC and its oil-producing allies to boost production as well as calling on regulators to scrutinize the price at the pump.
The White House told CNBC OPEC+’s gradual easing of production cuts is “simply not enough” amid a “critical moment in the global recovery.”
As of Tuesday, the AAA reported that the average U.S. price for a gallon of gasoline stood at $3.186.
Jim Cramer shared his take on the move and what he would like the White House to do instead in the video above.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/11/21