Amazon.com, Inc (NASDAQ:AMZN) founder Jeff Bezos has blasted President Joe Biden over his latest remarks asking gas companies to cut their prices amid rising inflation.
In a recent tweet, Biden urged gas stations to bring down the price and asked them to take immediate action.
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.
— President Biden (@POTUS) July 2, 2022
Responding to Biden, Bezos said that his statement reflects ‘a deep misunderstanding of basic market dynamics’.
Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics. https://t.co/XgKfEICZpk
— Jeff Bezos (@JeffBezos) July 3, 2022
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Last week, Biden told reporters that American vehicle owners would have to pay high gas prices for “as long as it takes” for the Ukraine war to end.
Biden has also called for a “gas tax holiday” and a cap on the price of Russian oil to lessen the pain at the pump for U.S. drivers.
During last week’s NATO conference, he described the elevated gas prices as the “Putin price hike” and blamed the Russian leader for surging inflation in the U.S.
Photo: Created with images from Gage Skidmore and George W. Bush Center on Flickr