CNN’s Tausche: Biden Seeing if Gas Prices Fall on Their Own, They Won’t Fall Much Without Recession or More Oil

On Wednesday’s broadcast of CNN’s “OutFront,” CNN Senior White House Correspondent Kayla Tausche reported that White House officials are taking “a wait-and-see approach” on gas prices “to see if, now that the economy is coming off of the peak travel and air-conditioning season, whether that alone allows prices to come down.” But “unless Saudi Arabia and Russia decide to start pumping more oil all of a sudden, or the economy goes into a recession, there’s not really going to be a dramatic impact.”

Tausche stated that White House officials “started holding more regular meetings to try and discuss what, if any, policy options are available to them to try to keep a lid on gas prices, especially going into the election year. I’m told at least two of those meetings happened last week and that they’re starting to pick up frequency among President Biden’s top political and national security aides. They’ve talked about some small messaging or regulatory measures that they could introduce that would have some limited impact on prices. But, for now, I’m told they’re going to take a wait-and-see approach to see if, now that the economy is coming off of the peak travel and air-conditioning season, whether that alone allows prices to come down. But, Erin, as you know, the cruelest irony about all of this is that, unless Saudi Arabia and Russia decide to start pumping more oil all of a sudden, or the economy goes into a recession, there’s not really going to be a dramatic impact.”

Follow Ian Hanchett on Twitter @IanHanchett