President Biden called out gas stations for price gouging and told them to lower prices now.

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The President said at the White House, “The message is simple, to the companies running gas stations and sending those prices at the pumps, bring down prices to reflect the cost you pay for the product. Do it now. Not a month from now, do it now. It is going to say people a lot of money. ”

President Biden was correct. There is still a ton of price gouging and profit taking in the economy as companies are using inflation as an excuse to increase prices, whether that price increase is justified or not.

What would be even better than the President putting pressure on the gas station owners would be for the federal authorities and regulators to start investigating price gouging.

Everyone knows that price gouging is happening and it won’t stop until there are consequences for the unjustified profiteering.

President Biden’s comments should be viewed as a warning that needs to be followed up with consequences.

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