Sherrod Brown to take action against high gasoline prices

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Sherrod Brown to take action against high gasoline prices

Star Beacon – With fuel prices hitting $3.39 a gallon at many gasoline stations in northeast Ohio in part because of political instability abroad, U.S. Sen. Sherrod Brown held a news conference Wednesday to talk about actions he is taking to alleviate pain for consumers at the pump.

Brown said he sent a letter to U.S. Secretary of State Hillary Clinton. He wants her to ask the Organization of the Petroleum Exporting Countries to increase oil production.

“This is not supply and demand. … Gas went up 11 cents this week and is predicted to be $4 by spring,” he said. “High gas prices will hurt the economy and fuel inflation.”

Brown hopes the federal government can keep people who speculate on market instability in check, taking advantage of Mideast and North African unrest at the same time Americans are limiting their driving and fuel consumption. Brown also is counting on “our friends in the Middle East” to increase production as a way of moderating oil prices worldwide. On Wednesday, the price of a barrel of oil topped $100, up about 15 percent in the past two weeks. A Saudi Arabian oil minister said last week that his country stands ready to boost production if the oil supply is disrupted by geopolitical events.

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