![Current gas prices are shown at a Chevron gas station in Encinitas, California October 10, 2014. Oil prices are hovering just above $90 per barrel, a level last seen in June 2012, Current gas prices are shown at a Chevron gas station in Encinitas, California October 10, 2014. Oil prices are hovering just above $90 per barrel, a level last seen in June 2012,](https://c8.alamy.com/compfr/2d05m5b/current-gas-prices-are-shown-at-a-chevron-gas-station-in-encinitas-california-october-10-2014-oil-prices-are-hovering-just-above-90-per-barrel-a-level-last-seen-in-june-2012-putting-a-strong-spotlight-on-opec-producing-countries-they-face-calls-to-cut-output-at-or-before-a-policy-meeting-in-late-november-to-prop-prices-up-as-some-are-already-feeling-the-pinch-of-sub-100-oil-through-increased-budget-pressure-global-oil-prices-are-collectively-reflecting-the-sweeping-impact-of-a-u-s-shale-oil-boom-with-its-production-consistently-outstripping-growth-forecasts-reuters-mike-blak-2d05m5b.jpg)
Current gas prices are shown at a Chevron gas station in Encinitas, California October 10, 2014. Oil prices are hovering just above $90 per barrel, a level last seen in June 2012,
![President Biden on Twitter: "Oil prices are decreasing, gas prices should too. Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it's $4.31. Oil and gas companies shouldn't President Biden on Twitter: "Oil prices are decreasing, gas prices should too. Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it's $4.31. Oil and gas companies shouldn't](https://pbs.twimg.com/media/FN-LMExWUAA-uzC.png:large)
President Biden on Twitter: "Oil prices are decreasing, gas prices should too. Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it's $4.31. Oil and gas companies shouldn't
![Nikos Tsafos on Twitter: "European gas prices jumped 31%. Gas now costs $225 per barrel of oil equivalent, more than twice as much as crude oil (around $100/bbl). The prospect of a Nikos Tsafos on Twitter: "European gas prices jumped 31%. Gas now costs $225 per barrel of oil equivalent, more than twice as much as crude oil (around $100/bbl). The prospect of a](https://pbs.twimg.com/media/FMZEpATXwAUlzpv.png:large)