The US government will hold a meeting today with representatives of oil refining companies and fuel distributors to discuss expanding refining capacities and reducing gasoline prices, according to CNBC.
Authorities plan to develop short-term concrete measures to increase refining volumes against the backdrop of rising oil supplies from Venezuela to US oil refineries.
It was previously announced that an agreement had been reached with Venezuela, under which the US received a controlling package of oil reserves totaling more than 65 billion barrels. This move aims to increase market supply and reduce fuel prices amid disruptions in global supply chains for raw materials.
The upcoming meeting, which will include Interior Secretary Doug Burgum, Energy Secretary Chris Wright, and industry leaders, is expected to assess whether the reduction in costs is reflected in final prices for consumers.
Administration representative Taylor Rogers noted that authorities are focused on ensuring that energy policy “provides maximum savings for consumers using gas stations.”
