In the US, gas stations are ingrained in the lifestyles of ordinary Americans. As a rule, the farther they are located from the big cities, the more significant they become for people as they have post offices and banks. Thus, any change in gasoline prices is sensitive for people’s budgets and can turn into serious problems for the White House. Analyst and financial journalist Charles Payne said in an interview with Fox Business that soaring gasoline prices caused by Russia's decision to cut oil exports would be a "big headache" for the US government in 2024. Payne noted that Joe Biden's energy policy was a "failure" and projected that a gallon (3.8 liters) of gasoline could reach $4. Notably, the current average price per gallon stands at $3.785. "We know what OPEC did, Russia did. But President Biden allowed them to easily take advantage of the situation. There is a problem: a lack of crude oil," Payne said. In early September, Russia extended the voluntary cut in oil exports by 300,000 barrels per day. At the same time, Saudi Arabia also extended the production cut by one million barrels per day.
