Energy secretary says she hopes gas prices won't reach $4

Energy Secretary Jennifer GranholmJennifer GranholmThe massive messaging miscues of all the president's men (and women) White House looks to rein in gas prices ahead of busy travel season Buttigieg has high name recognition, favorability rating in Biden Cabinet: survey MORE said on Sunday that she hopes gas prices will not reach $4 per gallon soon, adding that the Organization of the Petroleum Exporting Countries (OPEC) is “controlling the agenda.”

“According to AAA, the national average of gas prices is now $3.42 a gallon. Bank of America is predicting crude oil prices could soar another 50 percent by next June. Could the average gas price in America be $4 a gallon in the United States soon?” “State of the Union” co-anchor Dana BashDana BashGOP governor says McCarthy should condemn Boebert's anti-Muslim remarks Democrats optimistic as social spending bill heads to Senate O'Rourke won't say if he wants Biden to campaign for him in Texas senate race MORE asked Granholm on CNN.

“Well, we certainly hope not," the Energy secretary answered, saying President BidenJoe BidenBiden to provide update Monday on US response to omicron variant Restless progressives eye 2024 Emhoff lights first candle in National Menorah-lighting ceremony MORE "is all over this."

“Of course, every president is frustrated because they can't control the price of gasoline because it's a global market. You can call upon increased supply, which he has done and OPEC is unfortunately controlling the agenda with respect to oil prices. OPEC is a cartel, and it controls over 50 percent of the supply of gasoline,” she added.

Granholm also noted that OPEC countries decided last week against increasing their supply, adding that it is “going to increase the chokehold on access to affordable fuel at the pump.” 

She also acknowledged that Americans should expect to pay higher costs for heating their homes in the winter.

“We have the same problem in fuels that the supply chains have, which is that the oil and gas companies are not flipping the switch as quickly as the demand requires.”